Bloomberg – Travelodge Ltd. will get financing from two New York-based hedge funds as the U.K. budget hotel chain owned by Dubai International Capital restructures debt.
Avenue Capital Group LLC and GoldenTree Asset Management LP have underwritten a medium-term facility of 60 million pounds ($95 million), James Leviton, a spokesman for Travelodge, said by phone after the Sunday Times reported the company had six weeks to raise the money or it could face bankruptcy.
