Cases & Deals

Hyatt Hotels and Morumby Hoteis negotiate $75 million term loan facility with Sovereign Bank

Client(s) Hyatt Hotels Corporation

Jones Day advised Hyatt Hotels Corporation and Morumby Hoteis Ltda., a joint venture of Hyatt Hotels Corporation located in Sao Paulo, Brazil, in connection with the negotiation and documentation of a US$75 million term loan facility with, and related corporate guaranty in favor of, Sovereign Bank, N.A.  Proceeds of the term loan were applied in part to refinance in full a senior credit facility previously provided to, and secured by the assets of, Morumby Hoteis Ltda. with the Overseas Private Investment Corporation (OPIC).