May 18, 2017 / 12:19 PM / 2 months ago

BRIEF-Holloway Lodging Corp announces repayment of maturing mortgages and refinancing transactions

1 Min Read

May 18 (Reuters) - Holloway Lodging Corp

* Holloway Lodging Corp announces repayment of maturing mortgages and refinancing transactions

* Has refinanced all of its 2017 mortgage maturities

* Has entered into a credit facility with a syndicate of lenders led by CWB Franchise Finance

* Credit facility consists of a $50.0 million term loan and a $30.0 million revolver

* Holloway Lodging- has repaid an aggregate of $90.3 million of debt set to mature in 2017, as of May 17, Holloway has total debt outstanding of $212.4 million

* Holloway Lodging - has also entered into a commitment letter for a mortgage secured by two hotels located in Alberta with an Alberta-based credit union

* Holloway Lodging - mortgage expected to have maximum principal amount of $17.5 million, interest rate of 4.25 pct, an amortization period of 15 years & a 5-year term Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below