DUBAI - Dubai's real estate and hospitality group FIVE Holdings on Thursday announced it had completed the acquisition of Pacha Group, buying its hotel and nightclub businesses in a deal worth 303 million euros ($322.06 million).

The deal was funded through the issuance of a green bond and a revolving credit facility, FIVE said in a statement, and includes assets such as the popular Pacha Nightclub, first launched in Spain's Ibiza island, as well as Destino Pacha Hotel and El Hotel Pacha.

"This acquisition represents a strategic investment in an iconic brand and aligns with FIVE Holding's visionary approach to expanding its presence in the global hospitality and entertainment sectors," the company said.

FIVE, which has a presence in the United Arab Emirates and Switzerland, raised $350 million from a five year, non-call two debut green bond in September, which priced at a yield of 9.625%

($1 = 0.9408 euros)

(Reporting by Rachna Uppal; Editing by Nivedita Bhattacharjee)