18 June 2019 – refinancing

The owner and operator of seven hotels and a restaurant on the island of Barbados has refinanced all its loans and facilities.  The loans and facilities have been extended to 2024 on similar terms to those already in place.  The group now has US$64.4m of term loans and has a US$10m overdraft facility.  The repayment period of the term loans has been extended from 10 years to 15 years.  The shares are a BUY.