Shearman And Sterling

News December 18, 2018

Summit Hotel Properties’ $600 Million Credit Facility

Shearman & Sterling represented Deutsche Bank AG New York Branch, as administrative agent, in connection with senior unsecured credit facilities for Summit Hotel Properties. The credit agreement allows up to $400 million of borrowings under a revolving credit facility and up to $200 million of borrowings under a term loan facility for a total facility capacity of up to $600 million. Additionally, the facilities contain an accordion feature which will allow Summit to increase the facilities by up to an additional $200 million (to a maximum of $800 million).

The Team