Generator Group has defied tough financial markets to complete a €750m global refinancing.
The upmarket hostel operator, owned by Queensgate Investments, will accelerate expansion after Queensgate quadrupled profit in the six years since acquiring it.
The refinancing, involving 13 jurisdictions, included European debt facilities, private bonds and US debt facilities. It was backed by Ares Management in Europe and Generator’s existing US lenders, Waterfall Asset Management and Värde Partners.
Queensgate bought the chain, then consisting of 12 properties, in 2017 from Patron Capital for €450m. It is now up to 21 hostels with plans to grow further.
