---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-025964"
form_type: "8-K"
ticker: "PK"
cik: "0001617406"
company_name: "Park Hotels & Resorts Inc."
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:16:22.253340+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Park Hotels enters new $950M unsecured revolving credit facility, repays $78M term loan

## Summary
- New $950M unsecured revolver replaces $901M prior facility; matures Dec 1, 2026 with extension options.
- Borrowing capacity can increase by up to $500M if lenders agree to provide additional commitments.
- $50M drawn at closing plus cash used to repay all $78M outstanding under existing Term Loan Agreement.
- Interest rate margins: base rate 0.45%-1.75%, SOFR 1.45%-2.75%, based on leverage ratio; unused fee 0.20%-0.30%.
- Financial covenants include max leverage 8.00x stepping down to 7.25x by March 2024; other coverage and secured debt ratios.

## SEC filing metadata
- accession: 0000950170-22-025964
- form_type: 8-K
- ticker: PK
- cik: 0001617406
- company_name: Park Hotels & Resorts Inc.
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1617406/000095017022025964/0000950170-22-025964-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1617406/000095017022025964/pk-20221201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-025964
- JSON: https://secwatch.observer/filing/0000950170-22-025964.json
- Plain text: https://secwatch.observer/filing/0000950170-22-025964.txt

## Key facts
- Material Agreements
  Park Hotels & Resorts Inc. amended Credit Agreement with Wells Fargo Bank, National Association (as administrative agent) and the financial institutions party thereto as lenders and agents valued at $950 million (effective 2022-12-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association (as administrative agent) and the financial institutions party thereto as lenders and agents
  - Value: $950 million
  - Effective: 2022-12-01
  source text: On December 1, 2022, Park Hotels and Resorts Inc., a Delaware corporation, as parent (“Park”), PK Domestic Property LLC, a Delaware limited liability company and indirect subsidiary of Park (“PK Domestic”), and Park Intermediate Holdings LLC, a Delaware limited liability company and direct subsidiary of Park (“PIH” and together with PK Domestic, the “Borrowers”), entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent, and the financial institutions party thereto as lenders and agents as set forth in the Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1617406/000095017022025964/0000950170-22-025964-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.