|By PR Newswire||
|February 19, 2014 02:22 PM EST||
ORLANDO, Fla., Feb. 19, 2014 /PRNewswire/ -- The family-owned group has long been in business in the hospitality industry and has an excellent track record, in addition to having standing agreements with local and national touring companies. The group came to Capital Corp in September of 2013 seeking assistance to restructure its debt and expand its hotel operations.
Further to three months of extensive pre-due diligence, Capital Corp decided to move forward with the project and by late December 2013 a Formal Investment Proposal in the amount of $15.25M was signed with the Greek group.
This funding will allow the group to take advantage of the revival in the country's tourism industry, which soared 25% in 2013, and improved political stability.
The funding is the brainchild of Mr. Herard and consist of a combination of debt and equity, where the equity funding in the amount of €10M represents two-thirds of the total amount of funding needed for the project. This will have an immediate effect on the Group's cash flow and obviously on its working capital. The €5.25M debt will be acquired by way of Debenture and is repayable over 15 years at a very low interest rate, combined with an 18-month Grace period before any first payment is due.
Mr Herard is a seasoned merchant banker and has been in the banking industry for 38 years. As the head of Capital Corp Merchant Banking, Mr Herard has become a leading figure in international middle-market project financing and engineers all funding structures for projects at Capital Corp. Mr Herard has received numerous awards for his work and other contributions including being appointed to the Presidential Business Commission, Honorary Co-Chairman of the Business Advisory Council, nominated as Executive of the Year by the internationally acclaimed National Register's Who's Who, and having received the Senatorial Medal of Freedom, among many others.
About Capital Corp Merchant Banking: Capital Corp Merchant Banking offers quality Merchant Banking services for a variety of projects worldwide. It has become a leading figure in international middle-market project financing and engineers all funding structures for projects and debt restructurings. Capital Corp Merchant Banking is solution-oriented and known for being the most flexible Funding Source on the Market in creating handcrafted investment structures to meet the needs of the different constituent groups in each individual transaction. Capital Corp Merchant Banking offers many services: Project financing, business debt restructuring, consulting, negotiating services, acquisitions, and investment approach. For further information, please visit our website.
Business Development Department
SOURCE Capital Corp Merchant Banking
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Dec. 7, 2016 09:15 PM EST Reads: 301
Dec. 7, 2016 08:45 PM EST Reads: 1,625
Dec. 7, 2016 08:15 PM EST Reads: 2,203
Dec. 7, 2016 07:15 PM EST Reads: 356
Dec. 7, 2016 07:15 PM EST Reads: 1,782
Dec. 7, 2016 07:00 PM EST Reads: 460
Dec. 7, 2016 06:00 PM EST Reads: 2,656
Dec. 7, 2016 06:00 PM EST Reads: 1,870
Dec. 7, 2016 05:45 PM EST Reads: 1,099
Dec. 7, 2016 05:15 PM EST Reads: 926
Dec. 7, 2016 05:15 PM EST Reads: 330
Dec. 7, 2016 05:15 PM EST Reads: 261
Dec. 7, 2016 05:15 PM EST Reads: 1,750
Dec. 7, 2016 05:00 PM EST Reads: 1,919
Dec. 7, 2016 04:30 PM EST Reads: 1,676