Oasis Atlantico

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   Established in 1990, Oasis Atlantico Group (OA or the Group, https://www.oasisatlantico.com/) is an independent owner/operator, which runs 4- and 5-star resort hotels. The Group has its main operations in Cape Verde with four hotels, has a presence in Brazil with two hotels and in Morocco with one hotel (seven hotels with 1823 keys in total). The proposed IFC investment is a €21m secured corporate loan package (with €10.5m being an A Loan from IFC’s own account and €10.5m being a subordinated loan from PSW in USD equivalent) and mobilization of €21m debt to three Group entities in Cape Verde (the Project or the Co-Borrowers). The financing will support OA’s €42m program to (i) enhance the Group’s financial structure, through longer maturities, mitigating the impact of the COVID-19 pandemic and provide operational liquidity for the Group during the anticipated sector recovery period (2021-2025). The investment will free up cash generation required to finance critical maintenance capex, which will ensure that the hotels remain compliant with the global best industry standards.The IFC loan will cover the following Cape Verde entities (project hotels). The proceeds will be used to rationalize the lender group, by repaying smaller lenders and providing a larger tenor:(i)_Oásis Atlântico Imobiliária, S.A. that owns Project Hotel Salinas Sea, a 5-star hotel (https://goo.gl/maps/xvY3eenuqLabnDaZ8) with plot area 18,857 m2, and built-up hotel area of 25,584 m2(ii)_ Sal Hoteis S.A, that owns Project Hotel Belorizonte, a 4-star hotel in Santa Maria (https://goo.gl/maps/wkVrdak5R3A5gHVZ7) with plot area 51,166 m2 and built-up area of 18,858 m2 (iii)_ HotelMar S.A, that owns Project Hotel Praiamar, a 4-star hotel in Praia, Santiago Island (https://goo.gl/maps/4cK47qEAEkih3ZvQ6) with plot area 17,583 m2, built-up area of 6,956 m2 All project hotels house restaurants, bars, swimming pools and gyms. Belorizonte has an additional space for 6 shops and a wastewater treatment facility. Porte Grande Hotel, at Sao Vicente will not be covered within IFC’s project.