Milbank Represents Lead Arrangers and Administrative Agent in $657M Cross-Border Financing for the Belmond (Orient-Express Hotels) Group

NEW YORK, April 9, 2014 – International law firm Milbank, Tweed, Hadley & McCloy LLP represented Barclays Bank PLC as administrative agent and Barclays and J.P. Morgan Securities LLC as lead arrangers in connection with an approximately $657 million senior secured credit facility for Orient-Express Hotels Ltd. (NYSE: OEH) and its subsidiaries (the "Belmond Group"). The transaction closed and funded on March 21, 2014.

Owned and operated by Orient-Express Hotels Ltd., Belmond (www.belmond.com) is a global collection of exceptional hotel and luxury travel adventures and includes '21', one of New York’s most storied restaurants.

The senior secured credit facilities consist of a $552 million seven-year term loan (the "Term Loan B") comprised of a $345 million U.S. dollar-denominated tranche and a €150 million euro-denominated tranche, and a $105 million five-year, multi-currency revolving credit facility. The proceeds of the Term Loan B were utilized to refinance funded debt of the Belmond Group under numerous local, asset-level credit facilities and for general corporate purposes, and the $105 million revolving credit facility is available to finance working capital and for general corporate purposes.

Although incurred by a Bermuda borrower, the senior debt is supported by a cross-border guarantee and collateral package spanning the United States, the United Kingdom, Hong Kong, Singapore, Bermuda, Luxembourg, Italy, Cyprus and Russia.

The Milbank Global Leveraged Finance team was led by partner Michael Bellucci and associate Todd Koretzky and included associates Bianca Gersten and Josh Savitz, all resident in New York. Also providing advice on the transaction were London partners Suhrud Mehta and Stuart Harray, associates Michelle Gilmore, Charles Armstrong and Geoffrey Dunnett and trainee Ben Pridgeon, and Hong Kong partner Gary Wigmore, associates Gilly Hutchinson, Zizhen Chen, Nicholas Atwood and trainee Parinna Lau.