Enemalta Corporation refinanced part of its debt portfolio by virtue of a syndicated loan facility agreement entered into on the 31st December 2012 (the “Loan”). The refinancing transaction involved the registration of a new corporate vehicle (the “SPV”) which acquired a number of assets from Enemalta Corporation. The acquisition of the assets by the SPV was financed by virtue of the Loan. The proceeds from the sale of the transferred assets were utilised by Enemalta Corporation to pay-off the refinanced loans. Immediately upon the transfer of the said assets, the SPV agreed to lease the newly acquired assets to Enemalta Corporation in consideration of the payment of rents by Enemalta Corporation, which rents ought to enable the SPV to repay the amounts drawdown under the Loan together with any interest accruing thereon.

Camilleri Preziosi assisted the Mandated Lead Arranger, Agent and Security Trustee in the refinancing transaction.