Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

Reuters2026/08/28 20:16

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Choice Hotels entered a USD 500 million senior unsecured credit agreement with Wells Fargo as administrative agent on Aug. 28, 2026.
Facility is a USD 500 million unsecured term loan maturing Aug. 28, 2029, with an optional one-year extension subject to lender consent.
Interest set at SOFR with a 0% floor plus 1.25% margin, or a base rate plus 0.25% margin.
Covenants include a maximum 4.5x leverage ratio, temporarily up to 5.5x for acquisitions; fixed-charge test waived with investment-grade rating.
Proceeds earmarked for general corporate purposes, including working capital or debt repayment.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Choice Hotels International Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-374377), on August 28, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

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