Under the new facility agreement, the term loan facilities that were previously granted will be re-allocated and extended into a US$198.5 million three-year loan facility and a US$51 million term loan facility that will mature in September 2026 and September 2027 respectively.
ARA US Hospitality Trust has refinanced the US$270.8 million ($370.9 million) loan facilities via an amendment and restatement agreement on Sept 26.
The trust currently has a US$244.3 million three-year term loan facility, a US$8.5 million four-year term loan facility and a US$8 million letter of credit facility, which all mature in 2024. These facilities were granted via a facility agreement dated Nov 28, 2018.
