Summit Hotel Properties Announced That Its Joint Venture With GIC Has Completed The Refinancing Of Its $200 Million Senior Credit Facility, Which Is Comprised Of A $125 Million Revolving Credit Facility And A $75 Million Term Loan
Portfolio Pulse from Benzinga Newsdesk
Summit Hotel Properties has announced the completion of the refinancing of its $200 million senior credit facility. The facility is a joint venture with GIC and is comprised of a $125 million revolving credit facility and a $75 million term loan.
September 20, 2023 | 10:31 am
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Summit Hotel Properties has successfully refinanced its $200 million senior credit facility. This could potentially improve the company's financial stability and reduce interest costs.
Refinancing of the credit facility could lead to lower interest costs, improving the company's financial stability. This could potentially have a positive impact on the company's stock price in the short term.
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