RLH Corporation Announces Credit Facility Agreement With Deutsche Bank
RED LION HOTELS (RLH)
Last red lion hotels earnings: 2/27 06:30 am
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Source: GlobeNewswire
DENVER, May 14, 2018 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) today announced an agreement for a $30 million five year credit facility and $10 million five year revolver in a strategic agreement with Deutsche Bank, Capital One and Raymond James. The facility expands the Company’s relationships with financial institutions for future acquisitions where funding might be needed and provides flexibility for investing in future growth initiatives. “The strength of our balance sheet, growth of our franchise portfolio, and the progress in our asset light strategy – have positioned RLH Corporation to execute a credit facility agreement with Deutsche Bank,” said RLH Corporation Executive Vice President and Chief Financial Officer Doug Ludwig. “The facility and revolver provide the Company with flexibility and capacity in funding its on-going asset-light growth initiatives.” Funds from the $30 million term loan will be primarily used for the previously announced Knights Inn acquisition
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