Liptovský Mikuláš (8 October 2024) – Tatry mountain resorts, a.s. („TMR“, the „Company“) had yesterday signed a comprehensive financing package consisting of EUR 180 million Senior Facilities with a syndicate of leading Slovak, Czech and Polish banks and EUR 110 million Junior Facility with J&T BANKA. Proceeds from this financing will be used to refinance substantially all of TMR’s outstanding bank debt and bonds.
Igor Rattaj, TMR’s CEO, said: „This financing follows a EUR 120 million equity raise closed in July 2024 and completes the recapitalization of the Company. The new capital structure shall result in markedly lower debt servicing cost and provides TMR with substantial funding resources for its sustainable growth in the future and we are wery pleased with the outcome.“
The banking syndicate was coordinated by Tatra banka who acted as Mandated Lead Arranger and Global Coordinator. UniCredit Bank Czech Republic and Slovakia and Slovenská sporiteľňa acted as Mandated Lead Arrangers whereas Powszechna Kasa Oszczędności Bank Polski and Československá obchodná banka joined as Arrangers and Česká spořitelna and Raiffeisenbank ČR participated as Lenders. TMR were advised by A&O Shearman, Dentons acted as counsel to senior lenders and Kinstellar advised the junior finance provider.
_________________________________________________________________________________________________________________________________________________________________________
The company Tatry mountain resorts, a.s. (TMR) is a leading entity in the field of tourism in Central and Eastern Europe, which owns or leases and operates attractive mountain resorts, amusement parks, golf resorts, restaurants, sports services, shops, and hotels. In the Low Tatras in Slovakia, TMR owns and operates the Jasná Nízke Tatry resort and the hotel’s Grand Jasná, Hotel Tri Studničky, Chalets Jasná Collection, Hotel Srdiečko, Hotel Pošta, Night at Mt. Chopok, Hotel SKI and Hotel Liptov. TMR is also the owner of the water parks Tatralandia and Bešeňová. These are the largest water parks operating year-round, offering accommodation in bungalows and apartments in Holiday Village Tatralandia and in the hotels Bešeňová, Galeria Thermal Bešeňová, and Hotel Akvamarín Bešeňová. In the High Tatras, TMR owns and operates the Vysoké Tatry resort with mountain locations Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso. In the Slovak High Tatras, TMR also owns the hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso, and Night at Mt. Lomnickom štít. In Austria, the Group owns and operates the alpine resort on the Mölltaler Gletscher glacier and its sister resorts Ankogel Mallnitz and Muttereralm Innsbruck. In the Czech Republic, TMR also holds a minority stake in Melida, a.s., which leases and operates the Špindlerův Mlýn resort. TMR also leases and operates the Czech ski area Ještěd, Golf & Ski Resort Ostravice, and leases the Kaskáda Golf Resort Brno, where it oversees the operation of the hotel, restaurant, and congress center. In Poland, TMR owns and operates the mountain resort Szczyrk Mountain Resort and Legendia – Silesian Amusement Park (Śląskie Wesołe Miasteczko). In the real estate projects, the Group primarily focuses on the development, construction, and sale of apartments and commercial spaces and the leasing of hotels in TMR resorts. By the end of the 2023 fiscal year, approximately EUR 466 mil, has been reinvested in the development and modernization of TMR resorts. TMR shares are traded on three European stock exchanges in Bratislava, Prague, and Warsaw.