In accordance with the terms and conditions set forth in the indenture
governing the 2023 Senior Notes, the aggregate amount payable upon
redemption will be approximately
“The early redemption of our senior notes reflects our commitment to
deleveraging our balance sheet and maintaining our target net debt to
EBITDA ratio of 4.0x or less over time,” commented
The Company expects to fund this redemption by using cash on hand and
borrowings under its previously undrawn
About Us
Forward-Looking Statements
This release contains certain statements, other than purely historical
information, including estimates, projections, statements relating to
the Company’s business plans, objectives and expected operating results,
and the assumptions upon which those statements are based, that are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements generally are
identified by the use of the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “plan,” “may,” “will,” “will continue,”
“intend,” “should,” or similar expressions. Although the Company
believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, beliefs and
expectations, such forward-looking statements are not predictions of
future events or guarantees of future performance and the Company’s
actual results could differ materially from those set forth in the
forward-looking statements. Some factors that might cause such a
difference include the following: the current global economic
uncertainty, increased direct competition, changes in government
regulations or accounting rules, changes in local, national and global
real estate conditions, declines in the lodging industry, seasonality of
the lodging industry, risks related to natural disasters, such as
earthquakes and hurricanes, hostilities, including future terrorist
attacks or fear of hostilities that affect travel, the Company’s ability
to obtain lines of credit or permanent financing on satisfactory terms,
changes in interest rates, access to capital through offerings of the
Company’s common and preferred shares of beneficial interest, or debt,
the Company’s ability to identify suitable acquisitions, the Company’s
ability to close on identified acquisitions and integrate those
businesses and inaccuracies of the Company’s accounting estimates. Given
these uncertainties, undue reliance should not be placed on such
statements. Except as required by law, the Company undertakes no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. The
Company cautions investors not to place undue reliance on these
forward-looking statements and urges investors to carefully review the
disclosures the Company makes concerning risks and uncertainties in the
sections entitled “Risk Factors,” “Forward-Looking Statements,” and
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations” in the Company’s Annual Report, as well as risks,
uncertainties and other factors discussed in other documents filed by
the Company with the
For additional information or to receive press releases via email,
please visit our website:
http://rljlodgingtrust.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20180227005908/en/
Source:
RLJ Lodging Trust
Leslie D. Hale, 301-280-7774
Chief Operating
Officer and Chief Financial Officer