DiamondRock Hospitality Co. has refinanced, upsized, and extended the maturities under its senior unsecured credit facility.
The company entered into an amendment and restatement of its existing $1.2 billion facility, increasing the size to $1.5 billion and extending the company’s maturity schedule. The credit facility comprises a $400 million revolving credit facility maturing in January 2031, inclusive of two six-month extension options; a $500 million term loan maturing in January 2029, inclusive of two six-month extension options; a $300 million term loan maturing in January 2030, and a $300 million term loan maturing in January 2030, inclusive of two six-month extension options. The term loans are prepayable at any time without penalty.
The company is utilizing the incremental $300 million of proceeds under the credit facility to repay three mortgage loans that matured or will mature in 2025. The mortgage loans secured by the Worthington Renaissance Fort Worth H
