Milbank LLP has advised the initial purchasers in connection with Sani/Ikos Financial Holdings 1 S.à r.l.’s debut offering of €300 Million 5 5/8% senior secured notes due 2026 (the “Offering”).
The proceeds of the Offering will be used to fund general corporate purposes, to prepay a portion of Sani/Ikos’s outstanding debt, and to pay fees and expenses incurred in connection with the recently completed business combination of Sani Resort and Ikos Resorts and the Offering.
Sani/Ikos owns, develops and operates a differentiated portfolio of award-winning and well-invested five-star luxury resorts in prime beachfront locations in the Mediterranean. Founded in 1971, Sani/Ikos has expanded and developed into one of the world’s leading providers of Mediterranean luxury resorts and holiday experiences based on guest satisfaction. Sani/Ikos operates ten hotels consisting of six resorts across Greece and Spain and has two hotels under development in Greece and Portugal.
The Milbank team was led by European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis and special counsel Ana Grbec, associates Melanie Probst and Lefteris Dafermos and paralegal Matteo Bonacina. The team also included New York Tax partner Andrew R. Walker and associate Benjamin Heller. European Leveraged Finance/Capital Markets partner Sarbajeet Nag and associates Philip Anscombe and David Thomas also assisted on the matter.