Travelodge to bring debut HY bond, despite UK referendum angst

Hotel Check In
By Victor Jimenez
26 Apr 2016

Travelodge Hotels, the UK budget hotel chain, on Tuesday began marketing a £360m two tranche bond, its debut issue, in a European high yield market still eager for confirmation that deal flow will pick up in the coming weeks.

The second largest hotel operator in the UK wants to sell £360m of seven year notes as a fixed rate non-call three year tranche and a non-call one floater.

Goldman Sachs (billing and delivering) and Barclays are global coordinators. Goldman Sachs is also a 17% ...

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