Apple Hospitality REIT Extends Credit Facility Waiver Period and Enhances Financial Flexibility
By
Staff
1 month ago
RICHMOND, Va.–(BUSINESS WIRE)–Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that it has successfully amended its unsecured debt agreements to extend the waiver period of all existing financial covenants through the end of the fourth quarter of 2021 with all but two existing financial covenants waived through the end of the first quarter of 2022 (the “Extended Covenant Waiver Period”), unless the Company elects an earlier date. The Company’s unsecured credit facilities consist of a $425 million revolving credit facility, $820 million of funded term loans and a $50 million senior notes facility. As of March 1, 2021, the revolving credit facility had an outstanding balance of approximately $161 million with availability of approximately $264 million.
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For media enquiries, Victoria Biggs [email protected] / +44 7850 205490 Brunswick Group This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for making this announcement is Neil Murrin, General Counsel and Director of Regulatory Affairs at Trainline plc. Trainline plc LEI: 213800HO26VXTFJ4MO71 IMPORTANT NOTICE
NO ACTION HAS BEEN TAKEN BY THE ISSUER, THE JOINT BOOKRUNNERS OR ANY OF THEIR RESPECTIVE AFFILIATES OR ANY PERSON ACTING ON ITS OR THEIR BEHALF THAT WOULD PERMIT AN OFFERING OF THE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL RELATING TO THE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER AND THE JOINT BOOKRUNNERS TO INF
For media enquiries, Victoria Biggs [email protected] / +44 7850 205490 Brunswick Group This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for making this announcement is Neil Murrin, General Counsel and Director of Regulatory Affairs at Trainline plc. Trainline plc LEI: 213800HO26VXTFJ4MO71 IMPORTANT NOTICE
NO ACTION HAS BEEN TAKEN BY THE ISSUER, THE JOINT BOOKRUNNERS OR ANY OF THEIR RESPECTIVE AFFILIATES OR ANY PERSON ACTING ON ITS OR THEIR BEHALF THAT WOULD PERMIT AN OFFERING OF THE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL RELATING TO THE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER AND THE JOINT BOOKRUNNERS TO INFO