---
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"
generated_at: "2026-05-23T23:31:06.010757+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties enters $275M unsecured delayed draw term loan facility

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- 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/1497645/000149764525000040/0001497645-25-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000149764525000040/inn-20250327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001497645-25-000040
- JSON: https://secwatch.observer/filing/0001497645-25-000040.json
- Plain text: https://secwatch.observer/filing/0001497645-25-000040.txt

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