Shearman And Sterling

News December 18, 2020

Travelodge's £65 Million Private Placement

Shearman & Sterling advised the notes purchasers on Travelodge’s £65 million private placement of 9% senior secured notes due 2025 issued by TVL Finance plc, an affiliate of Travelodge Hotels. The proceeds of the private placement of the notes were used for general corporate purposes and to pay transaction-related fees and expenses.

Founded in 1985, Travelodge is the second-largest hotel brand in the United Kingdom based on the number of hotels and rooms operated.  Travelodge leases, franchises, manages and owns over 560 hotels and more than 44,000 rooms throughout the United Kingdom, Spain and Ireland. Travelodge is controlled by Golden Tree Asset Management, Avenue Capital and Goldman Sachs.

The Team