Premier Inn-owner Whitbread extends debt facility maturity to Sept 2023

Feb 3 (Reuters) - Premier Inn-owner Whitbread has struck an agreement with its creditors to extend the maturity of its revolving credit facility by one year to September 2023, the company said in a statement on Wednesday.

The hotel operator, which has been forced to shut its sites in Britain under the latest lockdown, also said it has priced two green bonds worth 550 million pounds ($750.53 million) and intends to repay about 284 million pounds worth of private placement notes.

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

The hotel operator last year raised 1 billion pounds to weather the impact of the COVID-19 pandemic.

Whitbread’s net debt stood at 322.9 million pounds, according to its half-year results in October. ($1 = 0.7328 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya Soni)