AIB Bank N.V. has announced the refinancing of the prestigious Hilton Aruba Caribbean Resort & Casino for an amount of Afl 182.5 million. This transaction was led by AIB Bank N.V.
AIB Bank N.V. acted as arranger, agent and lender in this financing. The other participating lenders in this local arranged transaction are Stichting Algemeen Pensioenfonds (APFA) and Aruba Bank N.V. The Hilton Aruba Caribbean Resort & Casino consists of a group of shareholders that are represented by the Aruba Growth Fund (in the persons of Rene Kan, Justus Martens en Milton Berlinski).
VANEPS advised AIB Bank N.V. in this transaction. Our main team consisted of a number of lawyers in our firm, including Focco Lunsingh Scheurleer, Inge van Hees-Wolswijk, Tiffany de Palm, Jovanca Frolijk and Joel Felida.
We assisted our client with the negotiations between the agent, lenders and the borrowers on the applicable financing conditions. Our team was also responsible for the drafting of the finance documentation and all other main aspects of the transaction.
For more details on the transaction, we refer to the press releases in the local media.