Apple Hospitality REIT refinanced and expanded its debt facilities, entering a new amended and restated credit agreement that raises its revolving credit facility to $700 million and extends maturities across its key loans. The Revolver now matures July 24, 2030 with extension options, while the $275 million Term A-1 and $300 million Term A-2 mature on July 24, 2031 and January 23, 2032, respectively. Separately, the company upsized and extended its seven-year term loan with PNC to $160 million due July 24, 2033, using the incremental $30 million to repay revolver borrowings and certain secured debt. Apple Hospitality REIT also executed conforming amendments on two other term loans to align pricing grids and covenants, enhancing liquidity and standardizing its capital structure.
Agreement 1: Apple Hospitality REIT Lifts Revolver to $700 Million, Extends Key Loan Maturities to 2030–2032
- Agreement type: Fourth Amended and Restated senior unsecured credit facilities (Revolver and Term Loans)
- Counterparty: Bank of America, as Administrative Agent, and other lenders
- Signed / Effective: Jul 23 2026 / same
- Duration / Termination: Revolver to Jul 24 2030; Term A-1 to Jul 24 2031; Term A-2 to Jan 23 2032
- Reason: Refinance, extend maturities, and boost liquidity
Agreement 2: Apple Hospitality REIT Upsizes Seven-Year Term Loan to $160 Million, Extends Maturity to 2033
- Agreement type: Amended and restated unsecured seven-year term loan
- Counterparty: PNC Bank, as Administrative Agent, and lenders
- Signed / Effective: Jul 24 2026 / same
- Duration / Termination: To Jul 24 2033
- Reason: Extend maturity and repay revolver and secured debt
Agreement 3: Apple Hospitality REIT Aligns Covenants on $385 Million and $85 Million Term Loans
- Agreement type: Conforming amendments to existing unsecured term loans
- Signed / Effective: Jul 24 2026 / same
- Duration / Termination: Maturities unchanged: Jul 31 2030 and Dec 31 2029
- Reason: Align pricing grid and covenants with new credit agreement
Original SEC Filing:
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