Radisson expects to get a further cash injection
Following the cash injection of €100m in the form of a subordinated shareholder loan that Radisson Hospitality AB (publ) ("Radisson" and, together with its subsidiaries, the "Group") received on June 4th, 2020, Radisson further expects to receive from its current shareholder, Aplite Holdings AB, an additional cash injection up to €100m in the form of a subordinated shareholder funding ("Additional Cash Injection") to cover the cash needs required for the Group's ongoing operations during the COVID-19 crisis. The Additional Cash Injection is intended to provide further support to the Group's financial position and to assist Radisson, together with its shareholder support, in securing the planned renewal of its RCF currently in place. The shareholder will also work together with Radisson's management team to improve the Group's business performance and cash flow control.
INVESTOR RELATION CONTACT
Sergio Amodeo, Executive Vice President & CFO
ABOUT RADISSON HOSPITALITY AB
Radisson Hospitality AB (publ) is one of the largest hotel companies in Europe, the Middle East & Africa (EMEA) and a member of the Radisson Hotel Group.
Through a master franchise agreement with Radisson Hospitality, Inc. USA – Radisson Hospitality AB operates and develops hotel brands across EMEA – including Radisson Collection, Radisson Blu, Radisson, Radisson RED and Park Inn by Radisson. It also operates the Radisson Rewards loyalty program for frequent hotel guests.
Radisson Hospitality AB features a portfolio of 387 hotels, with 84,800+ rooms in operation and 125 hotels, with 24,900+ rooms under development in 80 countries across Europe, the Middle East and Africa.
Radisson Hospitality AB and its brands employ 44,000+ team members. Radisson Hospitality AB has an industry-leading Responsible Business Program and has been named one of the World's Most Ethical Companies by the US think-tank Ethisphere nine times.
Radisson Hospitality AB is headquartered in Brussels, Belgium.
For more information on Radisson Hospitality AB, visit www.radissonhospitalityab.com
For more information on Radisson Hotel Group, visit www.radissonhotels.com/corporate