Braemar Hotels & Resorts Announces New $200M Corporate Financing
Portfolio Pulse from Happy Mohamed
Braemar Hotels & Resorts Inc. (NYSE:BHR) has secured a new $200 million corporate financing, which includes a $150 million senior secured term loan facility and a $50 million senior secured revolving credit facility. The financing can be expanded up to $400 million and is fully prepayable without penalty. The funds will be used to repay the mortgage debt associated with the Ritz-Carlton Sarasota, the Bardessono Hotel and Spa, and the Hotel Yountville. The company also plans to use the credit facility for general corporate purposes, including working capital, acquisitions, and refinancing existing debt.
August 01, 2023 | 12:52 pm
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Braemar Hotels & Resorts has secured a new $200 million corporate financing, strengthening its balance sheet and providing financial flexibility. This could potentially lead to positive investor sentiment.
The new financing provides Braemar with the ability to repay existing debts and fund future acquisitions or other corporate purposes. This strengthens the company's financial position and could lead to positive investor sentiment, potentially driving the stock price up in the short term.
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