Brief: Summit Hotel Properties Entered Fifth Amendment To $600 Mln Senior Credit Facility

Summit Hotel Properties

27/07/2022 22:59

July 27 (Reuters) - Summit Hotel Properties Inc  INN.N :
    * SUMMIT HOTEL PROPERTIES INC - FIFTH AMENDMENT TO $600.0
MILLION
SENIOR CREDIT FACILITY
    * SUMMIT HOTEL PROPERTIES-UNDER AMENDMENT, REVOLVING CREDIT
FACILITY, TERM LOAN FACILITY EACH NOW HAVE 2 ADDITIONAL 6-MONTH
EXTENSION OPTIONS AVAILABLE
    * SUMMIT HOTEL PROPERTIES-2 ADDITIONAL 6-MONTH EXTENSION
RESULT IN
FULLY EXTENDED MATURITY DATE OF MARCH 31, 2025 FOR $400 MILLION
REVOLVING CREDIT FACILITY
    * SUMMIT HOTEL PROPERTIES INC - 2 ADDITIONAL 6-MONTH
EXTENSION
RESULT IN FULLY EXTENDED MATURITY DATE OF APRIL 1, 2025 FOR $200
MILLION TERM LOAN FACILITY
    * SUMMIT HOTEL - INITIAL MATURITY DATES FOR REVOLVING CREDIT
FACILITY AND TERM LOAN FACILITY REMAIN MARCH 31, 2023, AND APRIL
1, 2024, RESPECTIVELY

Source text for Eikon: [https://bit.ly/3S5ArwC]
Further company coverage:  INN.N 

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