Vivion Investments announced today that they had successfully refinanced a secure debt facility, this came as good news to their shareholders. Additionally, their latest actions help to provide a stronger balance sheet moving forward, which will enhance the company’s ability to make purchases and perform ventures.
The facility is connected to its existing UK portfolio. As of June 2022, the £272m outstanding facility has now been fully prepaid using a combination of Vivion’s own liquidity and a new senior secured facility worth £200m. This new facility has been provided by one of the biggest commercial lenders in the UK and will allow for immediate usage of the funding.
The loan has a fixed term interest of 3.95%, which is a manageable amount for the company. There is also a bullet maturity for the company to consider, which will be due in October 2027. This loan helps to improve the company’s debt maturity profile and cut gross debt – both actions which will strengthen the position of the company as it moves further into 2023.
Furthermore, Vivion announced that in December 2022, it was paid €161 million as part of a deferred payment of €212 million, which came from the disposal of non-traded bonds at the beginning of 2022. The delayed payment has served to help the company for 2023 but wasn’t useful in the year before.
Official sources say that the remaining €50 million will be paid to the company in the first quarter of 2023. Furthermore, the payment of €161 million helps to strength the balance sheet that the company currently has.
As of 30 June 2022, the balance sheet for the company consists of €722m in cash and $3.1bn in unencumbered assets, which can be used to generate funding. The currently authorised bond buyback for the Company is €84.3m – this refers to the number of bonds the company can purchase and own and can help with investments.
Sascha Hettrich is the Chief Executive Officer of Vivion and had the following to say about the company:
“Following a disciplined and thorough process, we are pleased to announce this refinancing, which is a testament to the strength of Vivion’s relationships with secured lenders, as well as the confidence those parties have in our portfolio. This refinancing – together with the funds from the bond disposal –strengthen Vivion’s already robust balance sheet, providing additional cash to serve as a liquidity cushion and enhance our solid financial position.”
It’s clear that the move brings the company into a stronger financial position than before. Being able to strengthen existing balance sheets and have access to funding still to come in, will guarantee that the company is in a good place for the future. The addition of €50m during Q1 2023 will help to improve the company’s authorised bond buyback power and also finance other activities. This extra injection of funding will undoubtedly allow the company to make any investment it chooses.
Amir Dayan and the Dayan Family
The Dayan Family is a beneficial owner of the real-estate company Vivion S.à.r.l,.
Amir Dayan, who manages the family’s real estate businesses, is believed to be a major contributor to the success of the company. Born in Tel Aviv in 1974, Amir Dayan is an active investor, primarily in the field of real estate development across Europe, with a specific focus on Germany, the Netherlands, and the UK. Amir Dayan has been particularly invested in the European hotel industry, which includes the Africa-Israel hotel chain, as well as other real estate sectors since 2005.
