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News Jul 22, 2015

Shearman & Sterling Advises on Revolving Credit Facility for Choice Hotels International, Inc.

Shearman & Sterling represented Deutsche Bank AG New York Branch, as joint lead arranger and administrative agent, in connection with the $450 million syndicated senior unsecured revolving credit facility for Choice Hotels International, Inc. (NYSE: CHH).

Based in Rockville, Maryland, Choice Hotels International, Inc. franchises more than 6,300 hotels, representing more than 500,000 rooms, in the United States and more than 35 other countries and territories. As of December 31, 2014, 510 hotels, representing more than 39,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 93 hotels, representing approximately 8,700 rooms, are under construction, awaiting conversion or approved for development in more than 15 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria hotels & suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide.

The Shearman & Sterling team included partner Malcolm Montgomery (New York-Real Estate) and associates Jocelyn Redman (New York-Real Estate) and Katie Butler (New York-Corporate).