{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-085983","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2023-08-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.392310+00:00","generated_at":"2026-06-12T18:11:45.961495+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Braemar Hotels & Resorts enters into $200M senior secured credit facility, refinances existing mortgage debt","bullets":["$200M facility: $150M term loan + $50M revolver; initial three-year term with one-year extension option.","Proceeds used to repay mortgage debt on Ritz-Carlton Sarasota, Bardessono Hotel & Spa, and Hotel Yountville.","Interest rate: SOFR + 2.35%–3.10% based on Net Debt/EBITDA; initial rate expected SOFR + 2.85%.","Financial covenants: leverage ≤55% and fixed charge coverage ≥1.10x (≥1.25x after Dec 2024).","Facility can be expanded to $400M; fully prepayable without penalty; Bank of America agent, TBK/MidFirst participants."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-085983","json":"https://secwatch.observer/filing/0001104659-23-085983.json","markdown":"https://secwatch.observer/filing/0001104659-23-085983.md","text":"https://secwatch.observer/filing/0001104659-23-085983.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000110465923085983/0001104659-23-085983-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000110465923085983/tm2322435d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T18:11:45.961495+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6cfcc5e88a43629d693f54586d7f49be7d86bdfe","claim":"Braemar Hotels & Resorts Inc. incurred credit facility of $200 million with Bank of America, N.A. (as administrative agent) and the lenders party thereto at Daily SOFR or Term SOFR plus 10 basis points (with a 0% floor) plus the applicab maturing three-year.","evidence_excerpt":"The Credit Agreement evidences a $200 million senior secured credit facility (the “Facility”) comprised of a senior secured term loan facility of $150 million (the “Term Loan Facility”) and a senior secured revolving credit facility of $50 million (the “Revolving Credit Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1574085/000110465923085983/0001104659-23-085983-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$200 million"},{"label":"Counterparty","value":"Bank of America, N.A. (as administrative agent) and the lenders party thereto"},{"label":"Rate","value":"Daily SOFR or Term SOFR plus 10 basis points (with a 0% floor) plus the applicab"},{"label":"Maturity","value":"three-year"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}