Advising Luminare and the fund Unik Bond in relation to their financing and acquisition of Hôtel de Mandelieu La Napoule
We advised Luminare and Unik Bond on their €56 million acquisition and financing of Hotel de Mandelieu La Napoule, an entity owning the 4* Pullman Cannes Mandelieu Royal Casino Hotel. The financing of this transaction led to the implementation of a complex security package combining French and Luxembourg law securities, and in particular a trust (fiducie), pledges and guarantees.
Our firm handled all aspects of the transaction, from its structuring to its financing and its implementation. This transaction required tailor-made solutions adapted to the complexity of the financing and security package.
This case is a good illustration of the growing use of trust security in today’s financing transactions. The transfer of assets out of the debtor’s estate means that the creditor benefits from protection against bankruptcy, making the trust-security one of the most effective guarantees under French law.