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Chatham Lodging Trust Refinances Unsecured Credit Facility, Reduces Interest Costs and Pushes Maturity to 2023

CHATHAM LODGING (CLDT)  More Company Research Source: Business Wire
Last chatham lodging earnings: 8/1 07:00 am Check Earnings Report
PDF WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced that it successfully refinanced its $250 million senior unsecured revolving credit facility. The new unsecured revolving credit facility will mature in March 2023, which includes the option to extend the maturity by an additional year, and replaces Chatham’s previous $250 million senior unsecured credit facility that was scheduled to mature in 2020. Borrowing costs have been reduced by 0 to 15 basis points from comparable leverage-based pricing levels in Chatham’s previous credit facility. At Chatham’s current leverage level, the borrowing cost under the new facility is LIBOR plus 1.65 percent. Participating lenders for the unsecured line of credit include Barclays B [Read more]

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