Chesapeake Lodging Trust Extends Maturity and Reduces Borrowing Costs of Its Revolving Credit Facility
CHESAPEAKE LODGING TRUST (CHSP)
Last chesapeake lodging trust earnings: 8/1 07:30 am
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chesapeakelodgingtrust.com
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Source: Business Wire
ARLINGTON, Va.--(BUSINESS WIRE)-- Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced today that it has amended its credit agreement to extend the initial maturity to May 2022 and lower the interest rate spread over LIBOR charged on outstanding borrowings under the unsecured revolving credit facility. The revolving credit facility is led by Wells Fargo Bank, N.A., as administrative agent, JPMorgan Chase Bank, N.A., as syndication agent, and Deutsche Bank Securities Inc., PNC Bank, N.A., and Regions Bank, as documentation agents. The amended credit agreement continues to provide for a maximum amount that the Trust may borrow under the revolving credit facility of $300.0 million, and also provides for the possibility of further future increases, up to a maximum of $450.0 million, in accordance with the terms of the amended credit agreement. The actual amount that the Trust can borrow under the rev
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