American Hotel Properties amends corporate credit facility

Chicago, Jan. 28 – American Hotel Income Properties REIT LP announced that it has amended its $225 million corporate credit facility on Thursday with its lending syndicate, according to a press release.

The amendments include a waiver of key financial covenants through Dec. 31 and modified covenants through Dec. 31, 2022.

The availability of the facility has been fixed through Dec. 31.

Additionally, borrowings not subject to swap agreements will remain at Libor plus 300 basis points with a minimum Libor balance of 25 bps.

American Hotel Income Properties has headquarters in Vancouver. The REIT was formed to invest in hotel real estate across the United States.

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