INN +0.2% in after-hours trading.
The agreement replaces an existing $450M credit facility.
The line of credit matures in March 2023 and can be extended to March 2024 at the company's option.
The $200M term loan matures in April 2024 and includes an accordion feature that allows Summit to request additional lender commitments up to $900M.
Previously: Summit Hotel FFO in-line, beats on revenue (Oct. 30)
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