Scandic Hotels Group Obtains SEK7.5 Billion Syndicated Facility

Scandic Hotels Group (SHOT.ST) secured a new facility of 7.5 billion kronor from a syndicate of lenders, according to a Monday release. Finalized under a deal that took effect on July 2, the facility has a three-year term with an option for a two-year extension. The Swedish hotel company earmarked the facility for its growth strategy, which includes the purchase of Dalata Hotel Group.