Marriott increases revolver to $4.5 billion, extends it to June 2024

By Angela McDaniels

Tacoma, Wash., July 1 – Marriott International, Inc. amended and restated the credit agreement for its multicurrency revolving credit facility on Friday, extending the maturity date to June 28, 2024 from June 10, 2021 and increasing its size to $4.5 billion from $4 billion.

The amended agreement also revised some provisions to account for recent changes in U.S. GAAP, adjusted the calculations of adjusted total debt and EBITDA and eliminated the dollar-denominated swingline subfacility, including instead an option to borrow loans denominated in dollars on a same-day basis at the Libor daily floating rate.

Bank of America, NA is the administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The lodging company is based in Bethesda, Md.

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