---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-144008"
form_type: "8-K"
ticker: "SHO"
cik: "0001295810"
company_name: "Sunstone Hotel Investors, Inc."
filed_at: "2021-11-26T23:59:59+00:00"
generated_at: "2026-06-28T05:16:18.730889+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sunstone Hotel extends covenant relief period through Sept 2022, amends credit and note agreements

## Summary
- Covenant Relief Period extended through Sept 30, 2022, with minimum fixed charge coverage ratio of 1.0 required as of June 30, 2022.
- Ratio Adjustment Period extended by one quarter; original covenants phased in over five quarters after relief period.
- As of Nov 23, 2021, $0 drawn on $500M revolver and $185M in term loans outstanding.
- Fourth Note Agreement Amendment allows high yield bond issuance (≥$300M) to prepay the $205M outstanding Notes; change of control premium set at 102% until Nov 2023.
- Effectiveness of amendments conditioned on either high yield bond issuance or asset sales generating ≥$130M net proceeds by Dec 31, 2021.

## SEC filing metadata
- accession: 0001104659-21-144008
- form_type: 8-K
- ticker: SHO
- cik: 0001295810
- company_name: Sunstone Hotel Investors, Inc.
- filed_at: 2021-11-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1295810/000110465921144008/0001104659-21-144008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1295810/000110465921144008/tm2133804d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-144008
- JSON: https://secwatch.observer/filing/0001104659-21-144008.json
- Plain text: https://secwatch.observer/filing/0001104659-21-144008.txt

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