Mexico City, May 25th, 2023 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express”) (BMV: HCITY), informs investors about the recent prepayment of a portion of its syndicated loan, using part of the proceeds from the sale of its brands to Marriott International Inc. The prepayment, totaling $800,000,000.00 (eight hundred million 0/100 M.N.), resulted in a 20.6% reduction in the syndicated loan’s outstanding balance. This transaction strengthens the Company’s balance sheet and improve cash flow amidst a high-interest rate environment.
Following this operation, the remaining outstanding balance of the syndicated loan is $3,083,527,654 (three billion eighty-three million five hundred twenty-seven thousand six hundred fifty-four 00/100 M.N.). Hoteles City remains committed to its ongoing strategy of improving financial performance and reducing its leverage. At the same time, the Company is diligently working on refinancing the group loan, which is anticipated to conclude in the upcoming months.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance, Treasury and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com