Other DebtActive
11% Senior Secured Notes due 2031
MRNO-Sep31
BTC Holdings
21 BTC
Total Debt
$300.00M
Leverage
16902.5%
mNAV
25.47x
Outstanding
$300.00M
Insufficient history
Issue date
2024-09-12
Principal
$300.00M
Coupon
11.00%
Maturity
2031-09-12
Conversion price
—
- Issued through Fideicomiso 4323 (Mexican trust)
- 2% PIK interest capitalized first three years (13% total effective rate years 1-3)
- Defaulted on coupon payment Sep 2025; restructuring agreement in principle reached Mar 2026 with 81%+ noteholders
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured
- Payment frequency
- Semi-annual
- Payment dates
- Mar 12, Sep 12
- Rate type
- Fixed
- Collateral
- Collection rights from Grand Island Cancun hotel (GIC I Hotel); guaranteed by Murano PV, Operadora Hotelera G.I., Murano 2000 Trust, Murano 3224 Trust
- Covenants
- Restrictions on consolidation/merger, incurrence of liens, and sale and leaseback transactions
Sources(2)
- Form 6-K (Senior Secured …FilingForm 6-K (Senior Secured Notes closing)Murano Global Investments PLC — 2024-09-13
- Form 20-F (FY 2024)FilingForm 20-F (FY 2024)Note 10 — Long-term debtMurano Global Investments PLC — 2025-05-15
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-09-12 | Issuance | $300.00M | Form 6-K (Senior Secured … |
- 2024-09-12 — $300,000,000filing — Murano Global Investments PLCSource