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Apple Hospitality REIT Reports Results of Operations for First Quarter 2021

Apple Hospitality REIT Reports Results of Operations for First Quarter 2021
digitalmedianet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitalmedianet.com Daily Mail and Mail on Sunday newspapers.

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Apple Hospitality REIT Extends Credit Facility Waiver Period and Enhances Financial Flexibility

Apple Hospitality REIT Extends Credit Facility Waiver Period and Enhances Financial Flexibility
By
Staff
1 month ago
RICHMOND, Va.–(BUSINESS WIRE)–Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that it has successfully amended its unsecured debt agreements to extend the waiver period of all existing financial covenants through the end of the fourth quarter of 2021 with all but two existing financial covenants waived through the end of the first quarter of 2022 (the “Extended Covenant Waiver Period”), unless the Company elects an earlier date. The Company’s unsecured credit facilities consist of a $425 million revolving credit facility, $820 million of funded term loans and a $50 million senior notes facility. As of March 1, 2021, the revolving credit facility had an outstanding balance of approximately $161 million with availability of approximately $264 million. ....

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