Shearman And Sterling

News Feb 17, 2021

Summit Hotel Properties Modifies Senior Credit Facilities

Shearman & Sterling represented Deutsche Bank AG New York Branch as administrative agent in connection with further modifications to $1.015 billion in syndicated senior revolving credit and term loan facilities for Summit Hotel Properties. The modifications provide Summit with limited waivers of certain financial covenants, additional liquidity and continued flexibility. Summit Hotel Properties, Inc. is a publicly traded real estate investment trust which owns 72 premium-branded hotels across 23 states, with a total of 11,288 guestrooms.

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