{"schema_version":"secwatch.filing_event.v1","accession":"0001497645-26-000054","form_type":"8-K","ticker":"INN","cik":"0001497645","company_name":"Summit Hotel Properties, Inc.","filed_at":"2026-06-30T20:39:49+00:00","discovered_at":"2026-06-30T20:42:00.334041+00:00","generated_at":"2026-06-30T20:42:08.847751+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Summit Hotel Properties enters $650M senior unsecured credit facility, refinancing prior facility","bullets":["$650M facility: $400M revolver (matures 2030, extendable to 2031), $200M term loan (matures 2031), $50M delayed draw term loan (draws by March 2027).","Interest rates: SOFR + 1.40%-2.30% for revolver; term loans 0.05% less; base rate + 0.40%-1.30%.","Financial covenants: max leverage 7.25x, min fixed charge coverage 1.50x, min tangible net worth $1.67B+75% of equity proceeds.","Unencumbered asset pool: 52 hotel properties initially; minimum 20; unsecured debt to asset value ≤60%, NOI to interest ≥2.00x.","Accordion feature allows increase to $900M total commitments."],"urls":{"canonical":"https://secwatch.observer/filing/0001497645-26-000054","json":"https://secwatch.observer/filing/0001497645-26-000054.json","markdown":"https://secwatch.observer/filing/0001497645-26-000054.md","text":"https://secwatch.observer/filing/0001497645-26-000054.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1497645/000149764526000054/0001497645-26-000054-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1497645/000149764526000054/inn-20260629.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-30T20:42:08.847751+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"}