Chatham Lodging Trust (CLDT): debt financing — Chatham Lodging Trust upsizes credit facility to $500M, extends maturity to 2029

Chatham Lodging Trust

New $300M unsecured revolver and $200M term loan, up from prior $260M+$140M facilities.
Facility matures September 2029 with two 12-month extension options; accordion allows increase to $650M.
Revolver interest SOFR+1.5%-2.25% (currently 1.6%); term loan SOFR+1.45%-2.2%, a 10bps decrease.
Proceeds repaid $60M revolver and $140M term loan outstanding; joint lead arrangers include BofA, Wells Fargo, Capital One, Regions, Truist.
CFO Jeremy Wegner cited financial flexibility to enhance shareholder value, terms similar to larger lodging REIT peers.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chatham Lodging Trust incurred term loan of $200 million with Bank of America Securities, Inc. at adjusted term SOFR ranging from 1.45% to 2.2% (a 0.1% decrease from Existing Fac maturing September 25, 2029.

Instrument: term loan
Principal: $200 million
Counterparty: Bank of America Securities, Inc.
Rate: adjusted term SOFR ranging from 1.45% to 2.2% (a 0.1% decrease from Existing Fac
Maturity: September 25, 2029
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a $300 million unsecured revolving loan and an unsecured term loan of $200 million for a total of $500 million to replace the existing $260 million revolving credit facility and $140 unsecured term loan facility (together, the “Existing Facilities”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chatham Lodging Trust incurred revolving credit of $300 million unsecured revolving loan with Bank of America Securities, Inc. at adjusted term SOFR ranging from 1.5% to 2.25% (currently 1.6%) maturing September 25, 2029.

Instrument: revolving credit
Principal: $300 million unsecured revolving loan
Counterparty: Bank of America Securities, Inc.
Rate: adjusted term SOFR ranging from 1.5% to 2.25% (currently 1.6%)
Maturity: September 25, 2029
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a $300 million unsecured revolving loan and an unsecured term loan of $200 million for a total of $500 million to replace the existing $260 million revolving credit facility and $140 unsecured term loan facility (together, the “Existing Facilities”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001437749-25-029977

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