RLJ Lodging adds one-year extension option for term loans

By Wendy Van Sickle

Columbus, Ohio, Sept. 16 – RLJ Lodging Trust LP amended its corporate credit facilities to include a pre-approved one-year extension option for approximately $225 million of its $319 million term loans that mature in January 2023.

The exercise of the one-year extension option will be at the company’s discretion, subject to some conditions.

Additionally, the amendments increase the company’s flexibility to acquire hotels using existing balance sheet capacity during the existing covenant-relief period. The basket for such acquisitions was increased to $450 million from $300 million, subject to conditions.

RLJ Lodging is a Bethesda, Md.-based real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.