Slaughter and May advised Whitbread on its £1.5bn EMTN programme establishment

Slaughter and May advised Whitbread Group plc (“Whitbread”) on the establishment of its £1.5bn guaranteed Euro Medium Term Note programme. The issuer under the programme is Whitbread Group plc. Notes issued under the programme will be guaranteed by Whitbread plc and Premier Inn Holdings Limited and admitted to trading on the Main Market of the London Stock Exchange. The net proceeds of notes issued under the programme will be used for the general corporate purposes of the Whitbread group, including the refinancing of existing debt. The notes will be unsecured and will contain no financial covenants.

Whitbread owns Premier Inn, which has over 86,000 rooms across c.850 hotels in the UK, making it the UK’s largest hotel brand. Whitbread also has a growing presence in Germany, where it has 75 hotels. 

Barclays is the Arranger for the programme and Bank of China, Barclays, BNP Paribas, Commerzbank, Lloyds Bank Corporate Markets, NatWest and Santander Corporate & Investment Banking are the Dealers for the programme.