May, 2017 - Germany
Heuking Kuhn Luer Wojtek Advises Cloud No 7 on Interim Financing and on Capital Market Issues
Supported by Heuking Kühn Lüer Wojtek, led by Dr. Anne de Boer, Cloud No 7 GmbH took out interim financing in the form of a secured bond. Cloud No. 7 GmbH is building the Cloud No 7 residential and hotel complex in Stuttgart's Europaviertel sector behind the main railway station; the hotel is leased to Steigenberger Hotels AG. Construction is funded by a project development bond that was issued in 2013 and will be due in July 2017. Since delays in completion caused purchase price instalments to fall due later, the company decided to bridge this period with the interim financing.