{"schema_version":"secwatch.filing_event.v1","accession":"0001497645-25-000040","form_type":"8-K","ticker":"INN","cik":"0001497645","company_name":"Summit Hotel Properties, Inc.","filed_at":"2025-04-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.459856+00:00","generated_at":"2026-05-23T23:31:06.010757+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Summit Hotel Properties enters $275M unsecured delayed draw term loan facility","bullets":["Facility of $275M with accordion feature up to $50M; draw period through March 1, 2026.","Maturity March 27, 2028, extendable to March 27, 2030 with two 12-month options.","Interest rate based on SOFR plus 1.35%-2.35% or base rate plus 0.35%-1.35% based on leverage.","Covenants include max leverage 7.25x, min fixed charge coverage 1.50x, max secured leverage 45%.","Proceeds to refinance existing debt and for general working capital."],"urls":{"canonical":"https://secwatch.observer/filing/0001497645-25-000040","json":"https://secwatch.observer/filing/0001497645-25-000040.json","markdown":"https://secwatch.observer/filing/0001497645-25-000040.md","text":"https://secwatch.observer/filing/0001497645-25-000040.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1497645/000149764525000040/0001497645-25-000040-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1497645/000149764525000040/inn-20250327.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T23:31:06.010757+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}