Shearman And Sterling

News September 12, 2019

Hersha Hospitality’s $300 Million Term Loan

Shearman & Sterling advised Citibank, N.A. as administrative agent in connection with a $300 million senior unsecured term loan for Hersha Hospitality Trust, a hospitality sector REIT that owns and operates high-quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations in the United States.

The amended and restated term loan and related transactions will result in significant interest expense savings for Hersha in 2019 and 2020 and eliminate all of the company’s debt maturities until 2021.

The Team