Pebblebrook Hotel Trust announced the successful closing of its private placement of $400 million aggregate principal amount of 6.375% Senior Notes due 2029. This transaction was completed on October 3, 2024.
The operating partnership utilized approximately $353.3 million of the net proceeds from this offering to pay down three of its unsecured term loans. As a direct result of these repayments, the outstanding principal amounts of term loans maturing in October 2024, October 2025, and October 2027 have been reduced to $0, $200.0 million, and $360.0 million, respectively.
This strategic financial move means the Company now has no meaningful debt maturities until December 2026, significantly improving its debt maturity profile and enhancing financial flexibility.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.