BETHESDA, Md.--(BUSINESS WIRE)--May. 22, 2012--
"Our deal was well received and we were pleased by the strong interest from the lending community," commented
The base term is four years with a one-year extension option. The loan is interest only during the base term and bears a floating rate of LIBOR plus 235 basis points. The Company expects that the new financing terms will have a minimal impact on interest expense.
The Company has no further maturing debt obligations in 2012. The Company's next maturing debt obligation, assuming all extensions are exercised, will be in 2015.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement, including statements related to, among other things, the timing, price or amount of purchases, if any, under the Company's common stock repurchase program, the Company's target leverage ratio, potential acquisitions or dispositions, the completion of the 2012 capital improvement plan, RevPAR growth, EBITDA growth,
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RLJ Lodging Trust
Leslie D. Hale, Chief Financial Officer