UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As previously disclosed, RLJ Lodging Trust (the “Company”) and its operating partnership, RLJ Lodging Trust, L.P. (the “Operating Partnership”) are parties to a Third Amended and Restated Credit Agreement, dated as of December 18, 2019 (the “Credit Agreement”), which governs, among other things, the Company’s $600 million unsecured revolving credit facility that matures on May 18, 2024 (the “Revolving Credit Facility”). The material terms of the Revolving Credit Facility are described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 19, 2019, which description is incorporated by reference herein.
As of December 31, 2019, no amounts were outstanding under the Revolving Credit Facility. On March 19, 2020, the Operating Partnership borrowed $400 million under the Revolving Credit Facility so that a total of $400 million is currently outstanding.
The proceeds from the Revolving Credit Facility borrowings may in the future be used for working capital, general corporate or other purposes permitted by the Third Amended and Restated Credit Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RLJ LODGING TRUST | ||
| Date: March 20, 2020 | By: | /s/ Frederick D. McKalip |
|
Frederick D. McKalip Senior Vice President and General Counsel | ||