Chesapeake Lodging Trust has revamped its credit agreement. The U.S. self-advised lodging real estate investment trust has secured a two-year loan from a group of banks led by Wells Fargo Bank, as administrative agent, JP Morgan Chase Bank, as syndication agent and Deutsche Bank Trust Company Americas as documentation agent. The agreement raises the amount the company may borrow to $150 million from a previous $115 million. The new agreement also provides for the possibility of further future increases by up to $200 million.
Click here for the release from Business Wire.