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Primark and Premier Inn lineup state loans

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FTSE100 giants Whitbread and Associated British Foods today lined up loans from the government as they handle mass  store, hotel and restaurant closures.

ABF which owns Primark which shut 186 stores,  and Premier Inn owner, Whitbread  who had been forced to shut 800 hotels, both said  the Bank of England have confirmed they are eligible for COVID Corporate Financial Facility which lets the  Bank buy their commercial paper.

Whitbread’s credit rating gives it the option of landing funding upto  £600 million, on the top of  £400 million cash reserves  and a £900 million revolving credit facility.