Peddlebrook Hotel Trust draws all $100 million on unsecured term loan

By Tali David

Minneapolis, Aug. 16 - Pebblebrook Hotel Trust drew all $100 million of the unsecured term loan under its credit agreement, according to an 8-K filed with the Securities and Exchange Commission.

Under separate interest rate swap agreements, the company effectively fixed the interest rate on the term loan at 2.4% per year for as long as its leverage ratio is less than 4.0 times.

Pebblebrook is a Bethesda, Md.-based real estate investment trust focused on acquiring and investing in upper-upscale full-service hotels.

© 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.