July 20, 2018 — The firm represented hotel owner Minhal France in negotiation and documentation of a 31 million euro term loan to finance a complete renovation of Le Scribe, a 217-room hotel in Paris.
Le Scribe was built in 1861 as part of the Opera district of Paris, the most prestigious business and shopping area in the city. Minhal owns the land and building; international hotel chain Sofitel operates Le Scribe.
Le Scribe teamed up with Wilson Associates and its artistic director Tristan Auer to restore the legendary hotel to its former glory. The refurbishment began in April and is scheduled for completion in the fall of 2019. The hotel, which will remain open during its renovation, seeks to embody the spirit of Paris by emphasizing its core assets, specifically its location in the Opera district, its new design and its food and beverage offering.
Bred Banque Populaire acted as the mandated lead arranger and sole lender in the transaction, which closed on March 9.
Founded in 1979, Minhal is a subsidiary of Pakistan International Airlines Corp.
Sena Agbayissah and Agnes Braka-Calas worked on this matter.