Shearman And Sterling

News Sep 01, 2020

City Lodge Hotels Limited’s Rights Offering

Shearman & Sterling advised City Lodge Hotels Limited (CLHG) in connection with its rights offering.

The proceeds of the rights offering will be used to repay CLHG existing indebtedness, settle CLHG’s Broad-Based Black Economic Empowerment-related commitments and improve the group’s liquidity.

CLHG is a South African hospitality company that develops, owns and operates a portfolio of select service, budget and full service hotels across South Africa, the South African Development Community and East Africa. Headquartered in Johannesburg and listed on the Johannesburg Stock Exchange, CLHG operates its hotels under its select service brands City Lodge Hotel, Town Lodge and Courtyard Hotel, its budget brand Road Lodge,and its full service brand, the Fairview Hotel.

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