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

Extended Stay America units amend $1.3B credit agreement


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

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.