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Travelodge offers £165 million secured floating-rate notes due 2023
Portland, Ore., April 18 – Thame and London Ltd. (Travelodge) and its subsidiaries announced in a Monday press release that TVL Finance plc, an indirect subsidiary of Travelodge, will make an offering of £165 million of senior secured floating-rate notes due 2023.
Proceeds from the Rule 144A and Regulation S offering, together with cash on hand, will be used to take out the group’s existing senior secured floating-rate notes, to redeem 10% of the outstanding senior secured fixed-rate notes and to make certain payments to Travelodge’s shareholders in an amount not to exceed £35 million.
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