Murano Global Investments PLC Discloses Info for Debt Private Placement

TL;DR

Murano PubCo dropping new info for a debt raise via subsidiary private placement.

AI Summary

Murano Global Investments PLC (Murano PubCo) is preparing to disclose previously non-public information about itself and its subsidiaries, including Murano PV, S.A. de C.V., in connection with a private placement of debt securities by one of its subsidiaries. This disclosure is expected to be made to prospective purchasers of these debt securities.

Why It Matters

This filing indicates Murano Global Investments is seeking to raise capital through debt, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The company is undertaking a private placement of debt, which introduces financial leverage and potential repayment obligations.

Key Players & Entities

• Murano Global Investments PLC (company) — Registrant
• Murano PubCo (company) — Abbreviated name for Murano Global Investments PLC
• Murano PV, S.A. de C.V. (company) — Subsidiary of Murano PubCo

FAQ

Key Financial Figures

• $100,000,000 — , E.N.R. (" Finamo "), as lender, for Ps$100,000,000 (the " New Finamo Loan "). The New Fina
• $6.0 million — Tranche C commitment, amounting to U.S. $6.0 million as the assigned amount. - On March 3
• $50.7 million — nding balance of the GIC I VAT Loan was $50.7 million (U.S.$3.0 million). Further drawdowns t
• $3.0 million — e GIC I VAT Loan was $50.7 million (U.S.$3.0 million). Further drawdowns totalling $200.7 mi
• $200.7 million — 0 million). Further drawdowns totalling $200.7 million (US$12.0 million) were made on the GIC
• $12.0 million — r drawdowns totalling $200.7 million (US$12.0 million) were made on the GIC I VAT Loan on Apr
• $202.8 million — anding balance of the GIC I VAT loan is $202.8 million (U.S.$12.2 million). - On April 26,
• $12.2 million — e GIC I VAT loan is $202.8 million (U.S.$12.2 million). - On April 26, 2024, and May 27, 2
• $325,000 — a subsidiary of Murano PV) received U.S.$325,000 and U.S.$374,000, respectively, in disb
• $374,000 — urano PV) received U.S.$325,000 and U.S.$374,000, respectively, in disbursements under t
• $2.5 million — ctively, in disbursements under the U.S.$2.5 million Exitus Loan facility. The Exitus Loans
• $156 million — utstanding balance of loans totalling Ps$156 million (U.S.$9.4 million) granted by Murano Wo
• $9.4 million — of loans totalling Ps$156 million (U.S.$9.4 million) granted by Murano World, S.A. de C.V.
• $317,000,000 — o PV), as borrower, in the amount of Ps.$317,000,000 (the " ES Loan "). The ES Loan bears in
• $9 million — ano World S.A. de C.V. in excess of U.S.$9 million. Although we believe the covenant breac

Filing Documents

• ef20032430_6k.htm (6-K) — 3924KB
• 0001140361-24-033236.txt ( ) — 3925KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of: July 2024 Commission File Number: 001-41985 Murano Global Investments PLC (Translation of Registrant's name into English) 25 Berkeley Square, London W1J 6HN (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Contents In connection with a private placement of debt securities by one of its subsidiaries, MURANO GLOBAL INVESTMENTS PLC ("Murano PubCo") anticipates disclosing to prospective purchasers certain information about Murano PubCo and its subsidiaries (including Murano PV, S.A. de C.V.) that has not been previously publicly reported. The contemplated private placement is expected to be made under Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act"), and the debt securities will be sold only to qualified institutional buyers and to offshore investors in transactions exempt from registration under Rule 144A and Regulation S under the Securities Act. No assurance can be made that any private placement of debt securities will be completed. Murano PubCo has elected to provide this information in this Report on Form 6-K in the attached Exhibits 1 and 2 for informational purposes. This report does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer or sale would be unlawful. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Murano Global Investments PLC (Registrant) Date: July 16, 2024 By: /s/ David Galan Name: David Galan Title: Chief Financial Officer EXHIBIT INDEX EXHIBIT NO. EXHIBIT DESCRIPTION 1. Certain information with respect to Murano PubCo and its subsidiaries. 2. Condensed, consolidated and combined interim financial statements of Murano PV, S.A. de C.V. and subsidiaries as of March 31, 2024 and for the three-month periods ended March 31, 2024 and 2023 (" Murano Group 2024 Interim Financial Statements " ). EXHIBIT 1 Certain information with respect to Murano PubCo and its subsidiaries - i - SUMMARY Recent Developments - Murano PV, S.A. de C.V. (" Murano PV ") and its direct and indirect subsidiaries and operations (" we ", " us ", " our ", " the Group ", " the Murano Group ," or " Murano ") is required to deliver financial information, including audited financial statements to its lenders periodically. The Group provided such financial information for the period ending March 31, 2024 under certain of its financing agreements after the required reporting date. The required financial information has since been provided and, as a result, the Group believes that the breaches have been cured and, in any case where a formal waiver might be necessary, the Group believes that it will be able to obtain such waivers from the relevant lenders. - On April 1, 2024, the Grand Island Cancun I Hotel (" GIC I Hotel ") commenced operations with the opening of the Hyatt Vivid Grand Island in Cancun (" Vivid Hotel "). The Vivid Hotel is operated by AMR Operaciones MX, S. de R.L. de C.V., a Hyatt entity, through the Hyatt Inclusive Collection. As final fit outs and finishes are completed in certain areas to enhance customer experience, and the Vivid Hotel completes its first three months of operations, Murano looks forward to delivery of performance in terms of occupancy, ADR and RevPar, backed by good near-term advance bookings. Lot 1. - On April 4, 2024, Inmobiliaria Insurgentes 421, S.A. de C.V. (" Inmobiliaria Insurgentes 421 "), as borrower, and Banco Nacional de Comercio Exterior, Sociedad Nacional de Crdito, Institucin de Banca de Desarrollo (" Bancomext "), as lender, entered into an agreement to amend the Insurgentes 421 Loan, resulting in a reduction of the number of principal repayments from April 2024 to April 2025; in addition, the lender granted a waiver of a borrower's default derived from its failure to fund the debt service reserve account, an event of default which has since been cured. The Insurgentes 421 Loan is expected to remain outstanding after the Closing Date. We cannot assure you that any future waiver, if requested, for any future breach under similar circumstances or otherwise will be obtained. See "Risk Factors—Risks Related to Murano's Business and the Hotel Industry—Our total current liabilities exceed the amount of total current assets and Murano has breached certain covenants under current indebtedness; as a result, if waivers are not obtained and/or renewed, lenders may accelerate and dem

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