Travelodge Secures £60 Million Funding | Reuters
Budget hotelier Travelodge has secured a 60 million pounds ($94.89 million) line of funding and is trading well, a spokesman for the Dubai International Capital (DIC) DUBAHP.UL owned business said on Sunday.
He said the 60 million pounds medium term loan facility, which replaces an existing line, has been underwritten by junior lenders including U.S. firms Golden Tree Asset Management and Avenue Capital.
Travelodge was currently assessing if senior lenders, such as Investec (INVP.L), Barclays (BARC.L) and Royal Bank of Scotland (RBS.L), also want to participate. Debt restructuring talks began earlier this year.
