Whitbread launches £1bn cash call

By Aidan Gregory, Sam Kerr
21 May 2020

Whitbread, the parent of Premier Inn and Beefeater Restaurants, has unveiled plans for a £1bn rights issue tp bolster its balance sheet following mass disruption in the hospitality industry during the Covid-19 pandemic, which has forced the closure of pubs and hotels in the UK.

In a regulatory filing on Thursday morning, Whitbread said the rights issue was part of a number of measures taken to ensure that it is in a strong position to resume growth once the lockdown measures are lifted.

The one-for-two rights offer is underwritten by JP ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial