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.
|Loan Granted||October 2017|
|Loan Repaid||October 2018|
|Nominal Exposure||EUR 13.3 million|
|Collateral Valuation||EUR 31.4 million|