RLJ Lodging amends term loan, revolver to extend, add flexibility

By Wendy Van Sickle

Columbus, Ohio, Dec. 19 – RLJ Lodging Trust amended its $600 million senior unsecured revolving credit facility and its $400 million term loan facility to reduce the weighted average interest rates, provide additional covenant flexibility and improve the company’s maturity profile, according to a press release.

The revolver’s maturity date was extended to May 2024 from April 2020, and the term loan’s maturity was extended to May 2025 from April 2021. The revolver may be extended for an additional year.

The amendments provide the company with additional flexibility to optimize its balance sheet and pursue capital allocation opportunities.

RLJ Lodging said its debt maturities remain well staggered with no maturities until 2022.

RLJ Lodging is a Bethesda, Md.-based real estate investment trust focused on acquiring hotels.

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