Calyon acted as joint bookrunner in a EUR 200 million 5-year convertible bond issue for Sol Meliá. The deal came into the market at a 5% coupon. Calyon and Deutsche Bank managed to increase the size from the initial EUR 150 million to EUR 200 million. Sol Meliá chose Calyon based on their close relationship and the capabilities of the Bank.

 

Since 2003, Calyon has progressively enhanced its relationship with this MidCap name. Back in 2007, the Bank achieved (together with BBVA) its first relevant role in a Sol Meliá transaction, acting as bookrunner in the amendment and restatement of a EUR 200 million syndicated loan, which was a reference for Sol Meliá at that time. Despite difficult conditions in 2008, Calyon has maintained in good shape its relationship with this group on the grounds of an active coverage and marketing of line-free products such as Debt & Credit Markets, Corporate Brokerage and Equity Capital Markets.

 

Sol Meliá is the world's largest operator of holiday resorts and the 13^th biggest hotel chain worldwide. Domestically the company is the market leader in both resort and urban hotels. Currently Sol Meliá operates more than 300 hotels in 30 countries worldwide, employing over 35 000 people.