Pebblebrook Hotel Trust Increases Credit Facility To $650mln

(RTTNews) - Pebblebrook Hotel Trust (PEB) said that it successfully exercised the accordion feature of its existing senior unsecured revolving credit facility, upsizing the total capacity by $200 million, to a total of $650 million of availability.

The upsized availability provides for additional capacity and flexibility for Pebblebrook in anticipation of the merger with LaSalle Hotel Properties (LHO), which is expected to close on November 30, 2018.

The company's $650 million senior unsecured revolving credit facility matures in January 2023 and is jointly led by Bank of America Merrill Lynch and U.S. Bank National Association.