Spainish luxury resort project gets $327.6M funding agreement

1st Mar 2014
Spainish luxury resort project gets $327.6M funding agreement

The $327.6M funding agreement that Capital Corp Merchant Banking has entered into with its client encompasses the construction and operation of a 5 star hotel resort in Spain complete with residential apartments, villas, a commercial village, golf course, and marina. The project is currently ‘shovel ready’.

With the number of wealthy people increasing across the world, luxury travel is growing healthily. Emerging countries have greatly contributed to this positive performance, especially in the Asian region, thanks to increasing disposable incomes. Spain has remained a sought-after location, and due to the relaxation of visa applications for Non-EU investors, it has seen an increase in its Asian clientele in the form of increased tourist visits and those seeking secondary residences.

The funding structure Capital Corp Merchant Banking has devised consists of providing its client with $12M in common stock, $315.6M in debenture. The method by which this project is to be funded is the brainchild of Mr Herard. Mr Herard is a seasoned merchant banker and has been in the banking industry for 39 years. As the head of Capital Corp Merchant Banking, Mr Herard has become a leading figure in international middle-market project financing and engineers all funding structures for projects at Capital Corp. Mr Herard has received numerous awards for his work and other contributions including being appointed to the Presidential Business Commission, Honorary Co-Chairman of the Business Advisory Council, nominated as Executive of the Year by the internationally acclaimed National Register’s Who’s Who, and having received the Senatorial Medal of Freedom, among many others.


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