Short answer
Summit Hotel Properties, Inc. (INN) filed an 8-K current report with the SEC on June 30, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). $650M unsecured facility refinances prior credit agreement, comprising $400M revolver, $200M term loan, and $50M delayed draw.
Summit Hotel Properties, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $650M unsecured facility refinances prior credit agreement, comprising $400M revolver, $200M term loan, and $50M delayed draw
- Maturities extend to June 29, 2030 for revolver and June 29, 2031 for term loans, supporting longer-term liquidity
- Accordion permits total commitments up to $900M, subject to lender consent and customary conditions
- Interest priced at SOFR plus 1.40%-2.30% for revolver borrowings, with margins tied to leverage
- Key constraints include maximum leverage 7.25:1.00, minimum fixed-charge coverage 1.50:1.00, and minimum 20 unencumbered hotels
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Summit Hotel Properties, Inc. 8-K filings
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