Choice Hotels increases revolver commitments to $850 million

By Marisa Wong

Los Angeles, Feb. 14 – Choice Hotels International, Inc. entered into a third amendment on Feb. 14 to its amended and restated senior unsecured credit agreement dated Aug. 20, 2018 with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the aggregate amount of commitments under the revolving credit facility by $250 million to an aggregate amount of $850 million.

The amendment also replaces Libor with adjusted SOFR as the interest reference rate for dollar-denominated borrowings under the revolver.

The revolver is still scheduled to mature on Aug. 20, 2026.

Choice Hotels is a hotel franchisor based in Rockville, Md.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.