RLJ Lodging Trust proactively strengthened its balance sheet by refinancing a $200 million term loan to $300 million. This refinancing action extended the maturity of the loan to April 2028, providing greater long-term financial stability.
The incremental $100 million from the refinanced term loan was strategically utilized to pay off the company's corporate revolver. This move improves the company's liquidity position and reduces its reliance on short-term credit facilities.
Additionally, RLJ exercised extension options on $181 million in mortgage loans, pushing their maturities out to April 2026. These actions collectively enhance the company's financial flexibility and mitigate near-term debt obligations.
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