Business & Finance
Morgan Stanley Traders Pitch Travelodge’s Unloved Bonds as a Buy
Key Points
Morgan Stanley Traders Pitch Travelodge’s Unloved Bonds as a Buy Morgan Stanley’s credit traders are recommending investors buy bonds issued by Travelodge Hotels Ltd. after a steep drop in the UK budget hotel chain’s debt this year. The bank’s trading desk is pitching Travelodge’s £415 million ($550 million) senior secured bonds maturing in April 2028, according to people familiar with the matter, who asked not to be identified because the information is private. While the market has been...
Morgan Stanley Traders Pitch Travelodge’s Unloved Bonds as a Buy
Morgan Stanley’s credit traders are recommending investors buy bonds issued by Travelodge Hotels Ltd. after a steep drop in the UK budget hotel chain’s debt this year.
The bank’s trading desk is pitching Travelodge’s £415 million ($550 million) senior secured bonds maturing in April 2028, according to people familiar with the matter, who asked not to be identified because the information is private. While the market has been concerned about the company’s ability to refinance, the Morgan Stanley desk says Travelodge has multiple options to deal with the looming maturity.