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Chesapeake Lodging Trust Acquires The Le Meridien San Francisco

By TechAgreements

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The $60 million secured term loan with Wells Fargo Bank, N.A. bears interest equal to LIBOR, plus 3.75%, subject to a LIBOR floor of 2.00%. The loan has an initial term of 12 months, with four 12-month extensions, and can be prepaid without penalty at any time on or after June 15, 2011. Subject to certain conditions, the amount of the term loan may be increased up to $71.5 million.

Full post as published by TechAgreements on December 15, 2010 (boomark / email).

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