![Milbank LLP [Matteo Bonacina]](https://www.milbank.com/a/web/oJdT4n2yFf5Yji9eXLBkD4/9gGLzP/bonacina-matteo-lon-web-4876-2361-8080-v1.jpg "Milbank LLP [Matteo Bonacina]")
Milbank LLP has advised the initial purchasers in connection with Sani/Ikos Financial Holdings 1 S.à r.l.’s offering of €350 million 7¼% senior secured notes due 2030 (the “Offering”).
The proceeds of the Offering will be used to redeem all outstanding amounts under the Sani/Ikos’ existing 5⅝% senior secured notes due 2026, fund general corporate purposes, and pay transaction costs and expenses in connection with the Offering.
Sani/Ikos owns, develops and operates a differentiated portfolio of award-winning and well-invested five-star luxury resorts in prime beachfront locations in the Mediterranean. Founded in 1971, Sani/Ikos has expanded and developed into one of the world’s leading providers of Mediterranean luxury resorts and holiday experiences based on guest satisfaction. Sani/Ikos operates 15 hotels consisting of 12 resorts across Greece and Spain and has 3 hotels under development across Greece, Spain and Portugal.
The Milbank team was led by European Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis and Ana Grbec, associates Melanie Probst, Abril Kang and Matteo Bonacina. The team also included New York Tax partner Eschi Rahimi-Laridjani and special counsel Craig Cohen. Global Corporate associates Kate Meils, Madalena de Abreu and trainee George Widdicombe. European Leveraged Finance/Capital Markets associate Manel Mostefaoui and legal assistant Kyriaki Kyriacou also assisted on the matter.
