Apple Hospitality REIT refinances credit facility, raises revolver to $700 million
On July 23, 2026, Apple Hospitality REIT entered a Fourth Amended and Restated Credit Agreement that raises its senior unsecured revolver to $700 million from $650 million and extends the revolver and two term loans to 2030, 2031 and 2032. Separately, a $130 million term loan with PNC Bank was increased to $160 million and extended to July 24, 2033. The company's press release says it has no significant debt maturities until 2029, which matters to shareholders because the longer maturities reduce near-term refinancing needs, while the new agreement adds covenants and conditions on borrowing.
Key points
- Revolver commitments rise from $650 million to $700 million, with maturity extended from July 25, 2026 to July 24, 2030
- $275 million Term A-1 Loan extended to July 24, 2031; $300 million Term A-2 Loan extended to January 23, 2032
- $130 million PNC term loan increased to $160 million and extended to July 24, 2033, with the extra $30 million used to repay revolver and secured debt
- Accordion option allows total commitments up to $1.75 billion, subject to lender commitments and other conditions
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 28, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.