Subscribe Login
Hotel

Premier Inn Owner Whitbread Strikes Agreement To Extend The Maturity Of Its Revolving Credit Facility

By Dave Simpson

Premier Inn owner Whitbread has said that it has struck an agreement with its creditors to extend the maturity of its revolving credit facility by one year to September of 2023.

The hotel operator, which has been forced to shut its sites in Britain due the latest COVID-19-related lockdown, also said that it has priced two green bonds worth £550 million and intends to repay approximately £284 million worth of private placement notes.

The size of the company's credit facility will reduce by £225 million in September of 2022 before its maturity the next year, Whitbread said.

Raised Funds And Net Debt

Get a FREE Digital Subscription!

Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy

Last year, the hotel operator last year raised £1 billion to weather the impact of the COVID-19 pandemic.

Whitbread's net debt stood at £322.9 million, according to its half-year results in October.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription
Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription