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Travel technology company Amadeus has announced an agreement to refinance a €2.7 billion bank debt.
The restructuring of its finances has been carried out by a combined agreement with a total of nine banks, including The Royal Bank of Scotland and Deutsche Bank.
The deal is part of Amadeus’ plans to strengthen the financial structure of the business through less expensive and more flexible debt, said Ana de Pro, Amadeus’ chief financial officer.
“Through this deal we take the first step towards giving Amadeus more flexibility through extended maturity periods and improved terms and conditions,” he said.
“Overall, this refinancing will allow us to significantly decrease the cost of servicing our debt, which currently has a spread of around 3.60 per cent.”