Investment Rationale
Project “Byblos” is an example of a bridge loan which Stoneweg provided in Spain, based on the underlying collateral valuation, the notional value / LTV, as well an analysis of the borrower. There was a first lien mortgage debt, with an attractive underlying as collateral. This was a hotel complex, with substantial golfing facilities. As with all projects, the progress of the loan was measured against clearly defined milestones and the loan was successfully repaid in April 2019.
Key Data
| Loan Granted | October 2017 | |
| Loan Repaid | April 2019 | |
| Nominal Exposure | € 13.3 million | |
| Interest Rate | 13% | |
| Collateral Valuation | € 31.4 million |