latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/marriott-to-draw-2b-from-credit-facility-57897171 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Marriott to draw $2B from credit facility

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Marriott to draw $2B from credit facility

Marriott International Inc. borrowed $2.0 billion from its credit facility to withstand the impact of the COVID-19 pandemic on global markets.

The additional borrowing is meant to boost the hotelier's cash position and financial flexibility.

The landlord is holding the borrowings as cash, resulting in total cash and cash equivalents of approximately $3.7 billion, which may be used to repay commercial paper, approximately $2.0 billion of which remains outstanding, or for general corporate or other purposes.

The facility was amended and restated with Bank of America NA as administrative agent along with certain other banks in June 2019. The facility now has a total of $4.5 billion outstanding.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.