Jurys Secures Debt Buyback
Published on Nov 10 2014 11:35 AM in Hotel
Jurys Inn has finalised a buyback of its legacy Anglo debt worth in the region of £120 million.
The debt, which was part of a sell off by IBRC’s special liquidators, was included in €2.5 billion debt book sale called ‘Project Evergreen’.
The buyback comes after Jurys completed a successful restructuring that reduced its debt by £300 million to £240 million. Jurys’ Anglo debt can be traced back to the €1.6 billion buyout of the hotel group in 2007.
The debt buyout comes after a record one for revenues in 2013 for Jurys, which posted growth of £164 million. The refinancing was funded by Ulster Bank.