RLJ Lodging Trust announces two refinancings

|About: RLJ Lodging Trust (RLJ)|By:, SA News Editor

RLJ Lodging Trust (RLJ -0.7%) closes two refinancing transactions, including new $200M 5-year floating rate mortgage loan maturing in April 2024, and new $96M 7-year floating rate mortgage loan maturing in April 2026.

The proceeds will be used to repay two secured loans including $150M maturing October 2021 and ~$140M to mature March 2022.

The refinancings will reduce the weighted average interest rate spread from LIBOR+225bps to LIBOR+155bps, resulting in annual interest expense savings of over $2M.

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