CFO has said that a possible £1bn debt issue will be put on hold until the
reported turmoil in the global debt markets blows over.
Christopher Rogers said: ‘The propensity to lend to anyone but a sovereign
government is very low at the moment. Our advisers told us that “unless you have
to our advice is that you shouldn’t go at this time”.’
Whitbread would not divulge the exact amount of debt being sought, but
analysts believed that it could top £1bn, the Times reported.
Other corporates including Russian gas group Gazprom have also shelved plans
to secure debt in the last month, blaming the instability of the debt market and
high bond repayments.
Whitbread, which operates the Costa Coffee chain and the Premier Inn hotel
group, was hoping to raise debt secured against its hotels and restaurants.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements