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Stock impact report

Chatham Lodging Trust Refinances, Upsizes Unsecured Credit Facility

Chatham Lodging Trust (REIT) Common Shares of Beneficial Interest (CLDT) 
Last chatham lodging trust (reit) common shares of beneficial interest earnings: 2/26 06:30 am Check Earnings Report
Company Research Source: Business Wire
Incremental Capacity Enhances Already Strong Balance Sheet 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 has successfully entered into a new credit agreement that (i) increases total capacity under a senior unsecured revolving loan from $260 million to $300 million and (ii) increases total capacity under its senior unsecured term loan from $140 million to $200 million. The newly enhanced $500 million credit facility can be increased up to $650 million through an accordion feature.The $500 million credit facility matures in September 2029. The facility also includes options to extend the maturity by 12 months, subject to customary conditions. The new facility bears interest pursuant to a leveraged based pricing grid over the applicable adjusted term SOFR ranging from 1.5 to 2.25 percent for Show less Read more
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