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 GrantedOctober 2017
Loan RepaidApril 2019
Nominal Exposure€ 13.3 million
Interest Rate 13%
Collateral Valuation€ 31.4 million

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