---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-083241"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2022-07-27T23:59:59+00:00"
generated_at: "2026-06-24T08:07:51.200731+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel amends $600M credit facility, extends maturity, eases covenants

## Summary
- Extended maturity on $400M revolver to March 2025 and $200M term loan to April 2025.
- Eliminated minimum liquidity covenant; maximum leverage ratio set at 8.75x through June 2022 stepping down to 7.25x.
- Switched interest rate benchmark from LIBOR to SOFR; swingline facility terminated.
- Deutsche Bank resigned as administrative agent; Bank of America appointed successor.
- Similar amendments made to $225M 2018 term loan with comparable terms.

## SEC filing metadata
- accession: 0001104659-22-083241
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2022-07-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000110465922083241/0001104659-22-083241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000110465922083241/tm2221949d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-083241
- JSON: https://secwatch.observer/filing/0001104659-22-083241.json
- Plain text: https://secwatch.observer/filing/0001104659-22-083241.txt

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