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.
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