2023-07-06 08:14:36 ET
- Service Properties Trust ( NASDAQ: SVC ) has entered into a new $650M secured revolving credit facility, maturing on June 29, 2027, replacing previous $800M revolving credit facility maturing on July 15, 2023.
- The new credit policy includes two six-month extensions at the borrower’s option with interest based on SOFR plus a margin ranging from 1.50% to 3.00% based on SVC’s leverage ratio and will initially be 2.50%.
- The new facility is secured by 69 properties (66 hotels and three net lease properties).
- Source: Press Release
For further details see:
Service Properties Trust announces new $650M credit facility