Chatham Lodging Trust Upsizes and Extends Credit Facility to $500 Million with Leading Financial Institutions

Reuters
Sep 26
Chatham Lodging Trust Upsizes and Extends Credit Facility to $500 Million with Leading Financial Institutions

**Chatham Lodging Trust Upsizes and Extends Credit Facility to $500 Million** Chatham Lodging Trust $(CLDT)$, a hotel-focused real estate investment trust, has announced a new credit agreement that significantly enhances its financial flexibility. The agreement increases the REIT's senior unsecured revolving loan capacity from $260 million to $300 million and its senior unsecured term loan capacity from $140 million to $200 million, bringing the total credit facility to $500 million. The facility also includes an accordion feature that allows for an increase up to $650 million. The new credit facility matures in September 2029, with options to extend the maturity by 12 months, subject to customary conditions. Interest rates on the loans are tied to a leveraged-based pricing grid over the adjusted term SOFR, with the revolving loan currently at 1.6% and the term loan rate reduced by 0.1% compared to the prior facility. The transaction was led by Bank of America Securities, Wells Fargo Securities, Capital One, Regions Capital Markets, and Truist Securities, with JPMorgan Chase and Royal Bank of Canada also participating as lenders. Chatham's CFO Jeremy Wegner highlighted the company's strong financial position, noting the facility provides flexibility to pursue various shareholder value initiatives.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chatham Lodging Trust published the original content used to generate this news brief via Business Wire (Ref. ID: 20250926336248) on September 26, 2025, and is solely responsible for the information contained therein.

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