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BRIEF-Holloway Lodging Corp announces repayment of maturing mortgages and refinancing transactions

Published 2017-05-18, 08:16 a/m
© Reuters.  BRIEF-Holloway Lodging Corp announces repayment of maturing mortgages and refinancing transactions
HLC
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May 18 (Reuters) - Holloway Lodging Corp HLC.TO

* Holloway Lodging Corp announces repayment of maturing mortgages and refinancing transactions

* Has refinanced all of its 2017 mortgage maturities

* Has entered into a credit facility with a syndicate of lenders led by CWB Franchise Finance

* Credit facility consists of a $50.0 million term loan and a $30.0 million revolver

* Holloway Lodging- has repaid an aggregate of $90.3 million of debt set to mature in 2017, as of May 17, Holloway has total debt outstanding of $212.4 million

* Holloway Lodging - has also entered into a commitment letter for a mortgage secured by two hotels located in Alberta with an Alberta-based credit union

* Holloway Lodging - mortgage expected to have maximum principal amount of $17.5 million, interest rate of 4.25 pct, an amortization period of 15 years & a 5-year term Source text for Eikon: ID:nCNWBYQ2Za Further company coverage: HLC.TO

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