Aimbridge raises term loan size to $200 million, firms at 98 OID

By Sara Rosenberg

New York, Sept. 22 – Aimbridge Hospitality increased the size of its non-fungible term loan B due 2026 to $200 million from $150 million and set the original issue discount at 98, the tight end of the 97 to 98 talk, according to a market source.

Pricing on the term loan is still Libor plus 600 basis points with a 0.75% Libor floor.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used for general corporate purposes.

Aimbridge is a Plano, Tex.-based hotel management firm.

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