Scandic Hotels secures financing to support expansion plan

Scandic Hotels Group has received Skr7.5bn ($776m) successful caller financing to enactment its ongoing enlargement plans and supply further fiscal headroom.

The installation runs for 3 years and includes options to widen the word by up to 2 further years.

Scandic said the model volition enactment its broader maturation agenda, including the projected acquisition of Dalata Hotel Group portion "further strengthening" the group's fiscal flexibility.

Scandic Hotels Group main fiscal serviceman Pär Christiansen said: "Scandic has a beardown fiscal presumption and a wide maturation strategy.

"This caller semipermanent financing model provides important flexibility to enactment our continued expansion, including the planned acquisition of [hotel operator] dalata.

"We are besides pleased to further fortify our banking radical with further narration banks that harvester wide planetary scope with beardown section expertise crossed Scandic's markets."

The financing bundle has been arranged by DNB and Nordea Bank ABP, filial one Sverige, which acted arsenic coordinating bookrunners and mandated pb arrangers.

The backing was provided by a syndicate of narration banks, including DNB, Nordea Bank ABP, filial one Sverige, Allied Irish Banks, Barclays Bank Ireland, NatWest Bank, Swedbank (publ) and Swedish Export Credit Corporation.

Scandic operates a web of astir 320 hotels, totalling 68,000 rooms successful cognition and nether development.

Last month, Scandic announced that it is adding a caller franchise edifice spot successful Finnsnes, Norway, with the opening targeted for mid-2028.

The task volition beryllium developed done a franchise statement with Norlandia Hotel Group.

"Scandic Hotels secures financing to enactment enlargement plan" was primitively created and published by Hotel Management Network, a GlobalData owned brand.