trending Market Intelligence /marketintelligence/en/news-insights/trending/Cc3xYBZ7tGgj8PfaJ2H22w2 content esgSubNav
In This List

Extended Stay America units amend $1.3B credit agreement

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Extended Stay America units amend $1.3B credit agreement

Extended Stay America Inc.'s controlled subsidiary and its units amended an existing roughly $1.29 billion credit agreement to provide for new term loans with the same aggregate amount.

The new loans will have the same maturity date of Aug. 30, 2023, as the existing term loans.

The amended agreement also decreases the term loans' interest rate spreads on the London Interbank Offered Rate to 2.00% or 2.25% from 2.50%, and the alternate base rate to 1.00% or 1.25% from 1.50%, in each case depending on ESH Hospitality Inc.'s credit rating, among other changes.

Deutsche Bank AG New York Branch is the administrative agent and collateral agent.