Pebblebrook Hotel Trust issues $400M 6.375% senior notes due 2029, repays $353.3M term loans

Pebblebrook Hotel Trust

Issued $400M aggregate principal of 6.375% senior secured notes due Oct 15, 2029, in a private placement.
Net proceeds ~$390M; $353.3M used to repay three unsecured term loans, balance for other debt reduction.
Interest payable semi-annually Apr 15 and Oct 15, commencing Apr 15, 2025; redemption includes make-whole premium.
Notes fully guaranteed by the Company and certain subsidiaries; covenants require unencumbered assets >=150% of unsecured debt.

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