Cases & Deals

Hyatt Hotels and Sao Paulo Investment Company obtain financing

Clients Hyatt Hotels Corporation; Sao Paulo Investment Company, Inc.; and Morumby Hoteis Ltda.

Jones Day advised Hyatt Hotels Corporation; Sao Paulo Investment Company, Inc., a Panamanian joint venture of Hyatt Hotels Corporation located in Panama (SPIC); and Morumby Hoteis Ltda., a wholly owned subsidiary of SPIC located in São Paulo, Brazil (Morumby), in connection with the negotiation and documentation of a US$80 million multi-tranche delayed draw term loan facility provided by Sovereign Bank, N.A. Proceeds of the term loan were applied in part to refinance certain existing indebtedness of Morumby and with the remaining proceeds available to finance renovations of the Grand Hyatt São Paulo hotel.

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