Dubai-owned Travelodge secures £60 million line of funding - The National

Budget hotelier Travelodge has secured a £60 million line of funding and is trading well, a spokesman for the Dubai International Capital-owned business said.

He said the £60m pounds medium term loan facility, which replaces an existing line, has been underwritten by junior lenders including US firms Golden Tree Asset Management and Avenue Capital.

Travelodge was currently assessing if senior lenders, such as Investec, Barclays and Royal Bank of Scotland, also want to participate. Debt restructuring talks began earlier this year.

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