trending Market Intelligence /marketintelligence/en/news-insights/trending/qosvdt8vz2umbzpxtrafaa2 content esgSubNav
In This List

Red Lion agrees to credit facility with 3 banks, closes Knights Inn deal

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Red Lion agrees to credit facility with 3 banks, closes Knights Inn deal

Red Lion Hotels Corp. agreed to a $30 million five-year term loan facility and a $10 million five-year revolver from Deutsche Bank, Capital One and Raymond James.

The term loan facility and revolver will be used by Red Lion for future acquisitions. Funds from the $30 million term loan will be primarily used for the company's Knights Inn brand acquisition from Wyndham Hotel Group LLC, a subsidiary of Wyndham Worldwide Corp., which closed May 14.

With the brand acquisition of Knights Inn, Red Lion acquired approximately 350 economy segment franchise contracts across North America and a pipeline of additional contracts.

The company also said it will use proceeds from the future sale of five hotels being marketed for disposition toward reducing the 20-year amortizing loan balance.