Business Context and Reporting Period
Company: Ashford Hospitality Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: September 26, 2011
Event: Regulation FD Disclosure regarding a new senior credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or overall debt levels. The primary financial metric disclosed is the establishment of a new credit facility:
- New Credit Facility Amount: $105 million
- Facility Type: Three-year revolving senior credit facility
- Interest Rate: 275 to 350 basis points over LIBOR
- Previous Facility Maturity: April 2012
Material Changes
The Company replaced its previous credit line, which was scheduled to mature in April 2012, with a new three-year revolving line of credit. The interest rate spread (275 to 350 basis points over LIBOR) remains unchanged from the previous facility.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard disclosure of the credit agreement terms. The transaction is presented as a refinancing of existing debt capacity.
Investor Verification Checklist
- Verify the full terms of the new $105 million credit facility in the attached press release (Exhibit 99.1).
- Confirm the status of the previous credit line and whether any drawdowns were outstanding at the time of replacement.
- Review subsequent filings for any changes to the interest rate spread or covenants associated with the new facility.