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Adviser sought to sell Menzies hotels to repay matured Lloyds debt

Cordial Hotels, the company which owns the UK Menzies hotel chain, is to appoint an adviser to sell the 15 three- and four-star Menzies hotels, after the restructured £165m senior debt facility with Lloyds Banking Group matured at the turn of the month.
By James Wallace
April 22, 2013 | 7:40 P.M.

Bank of Scotland, the legacy legal entity from Lloyds’ 2009 acquisition of HBOS, restructured a three-tranche senior facility nearly two years ago with Cordial Hotels, the company which formed out of a management buyout led by former chief executive Tim Penter.

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