Hotel firm Whitbread amends clause to avoid technical default
Whitbread, the UK hotel and restaurant company behind Premier Inn, has amended a clause in its debt documentation which could have left it liable for technical default. One source said several companies may have to go through a similar amendment process.
Whitbread has a £950m revolving credit facility, and £250m and $168.5m worth of US private placements. It also has £450m of guaranteed bonds expiring in October 2025.The company released a Covid-19 update on March 24 through RNS which stated: “It is possible that closure of our hotels ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org