Hersha Hospitality Trust Refinances $300M Term Loan
Hersha Hospitality Trust Class A Common Shares of Beneficial Interest (HT)
Last hersha hospitality trust class a common shares of beneficial interest earnings: 2/24 04:15 pm
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Source: GlobeNewswire
- Enters into Fixed Rate Swaps on Remaining $400.9M of Term Loans -- Eliminates All Near Term Debt Maturities -- 90% of Outstanding Debt Fixed or Hedged - PHILADELPHIA, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of high-quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations, today announced the Company closed on the refinancing of its $300 million Senior Unsecured Term Loan (“The Term Loan”). The Company also entered into a series of new swap contracts to fix the interest rates on the remaining $400.9M of Senior Unsecured Term Loans. “We are pleased with our lending group’s continued support and constructive view of Hersha’s growth initiatives and strategic direction. The refinancing of our term loan sustains the significant efforts undertaken to optimize our balance sheet and provides additional flexibility to execute our business plan. Furthermore, the term loan refinancing and
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