Bloomberg News

London’s Savoy Hotel Seeks to Refinance Loans

April 09, 2012

London’s Savoy Hotel is seeking refinancing on 230 million pounds ($365 million) of bank loans that mature this year, the London-based Times reported, citing an unidentified person with knowledge of the process.

The hotel’s debts are mainly loans from Lloyds Banking Group Plc (LLOY), which is looking to syndicate most of them, the newspaper said. Directors of the Savoy’s holding company, Breezeroad, have asked insurers, lenders and sovereign wealth funds whether they are interested, the Times said.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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