Ashford Replaces Term Loan
Ashford Hospitality Trust, Inc. (NYSE:AHT), a real estate investment trust (REIT), recently replaced its $167.2 million loan scheduled to mature in May 2012 with a new $135.0 million loan. The new loan is scheduled to mature in May 2014, and includes an accordion feature, which allows the company to increase the debt maturity by three [...]
Ashford Hospitality Trust, Inc. (NYSE:AHT), a real estate investment trust (REIT), recently replaced its $167.2 million loan scheduled to mature in May 2012 with a new $135.0 million loan. The new loan is scheduled to mature in May 2014, and includes an accordion feature, which allows the company to increase the debt maturity by three additional one-year periods. The new loan provides a floating interest rate of LIBOR+ 6.50%.
The new loan is secured by nine hotels. The refinancing of the loan has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards