Travelodge checks in £390m debut bond but Brexit raises coupons

hotel
By Victor Jimenez
29 Apr 2016

UK budget hotel chain Travelodge Hotels on Friday priced the first sterling high yield corporate bond of the year, with pricing widened by the imminent EU referendum in the UK.

The European high yield market on Friday began pricing some of the four bond offerings that had been roadshowed during the week, including those of Norwegian Air Shuttle, packaging maker Ardagh and Corral Petroleum.

The opening shot was Travelodge’s £390m seven year senior secured two tranche note, ...

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