Business Wire·Jul 28, 2026, 4:15 PM ET

Apple Hospitality REIT Successfully Completes Refinancing Transactions

APLE

Apple Hospitality REIT, Inc. completed refinancing transactions on July 23, 2026, to enhance its balance sheet & extend debt maturity schedules.
The unsecured $1.2 billion Main Credit Facility was amended & restated to increase total borrowing capacity to approximately $1.3 billion with improved pricing terms.
The Main Credit Facility now includes a $275 million term loan maturing July 24, 2031, a $300 million term loan maturing January 23, 2032, & a $700 million revolving facility maturing July 24, 2030.
An additional $50 million capacity was added to the revolving credit facility under the amended agreement, which also features an accordion option to increase total facility size to $1.75 billion.
The $130 million term loan was restructured into a $160 million Seven-Year Term Loan with an extended maturity date of July 24, 2033.
The incremental $30 million from the term loan increase was funded at closing to reduce outstanding revolving credit & secured debt maturities.
Pricing for the Main Credit Facility ranges from SOFR plus 1.35% to 2.30%, while the Seven-Year Term Loan ranges from SOFR plus 1.70% to 2.65%, both dependent on leverage ratios.
Two other unsecured credit facilities totaling $470 million had their pricing grids updated to match the Main Credit Facility without changing principal amounts or maturity dates.
The company now has no significant debt maturities until 2029, extending the weighted average maturity of total consolidated debt to nearly five years.
Apple Hospitality maintains no outstanding borrowings under its revolving credit facility, preserving substantial available liquidity.
BofA Securities, Wells Fargo Securities, KeyBanc Capital Markets, U.S. Bank, PNC Capital Markets, & Truist Securities served as arrangers for the Main Credit Facility.
PNC Capital Markets & The Huntington National Bank served as arrangers for the Seven-Year Term Loan.