1
Press Release
RLJ Lodging Trust Successfully Refinances $600 Million Senior Unsecured Credit
Facility and $225 Million of Term Loans
Bethesda, MD, May 16, 2023 – RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that
it successfully recast its $600.0 million senior unsecured revolving credit facility (the “Revolver”) and
entered into a new $225.0 million senior unsecured term loan (the “Term Loan”).
“These transactions underscore our approach to prudently managing our balance sheet by continuing to
improve the laddering of our maturities and reducing our floating interest rate exposure in an uncertain
environment,” commented Leslie D. Hale, President and Chief Executive Officer. “Being able to add
incremental flexibility while extending our maturity profile is a testament to our strong lender
relationships. With these further enhancements to our balance sheet, we remain extremely well-positioned
to continue to execute on our growth initiatives.”
The amendment to the Revolver extends the maturity to May 2027 with an option to extend up to one
additional year. The new $225 million Term Loan matures in May 2026, and has two, one-year extension
options to May 2028. The proceeds from the new Term Loan were used to repay two term loans maturing
in January 2024. In addition to improving the Company’s debt maturity profile, the amendment includes
certain modifications to enhance flexibility and retain the pricing grid from the prior facility.
Additionally, the Company remained active in managing interest rate risk and executed $250.0 million in
interest rate swaps with a weighted average rate of 2.88%.
About Us
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily
premium-branded, high-margin, focused-service and compact full-service hotels. The Company’s portfolio
currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of
Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
Forward Looking Statements
This information contains certain statements, other than purely historical information, including estimates,
projections, statements relating to the Company’s business plans, objectives and expected operating results,
and the assumptions upon which those statements are based, that are “forward looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-
looking statements generally are identified by the use of the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “plan,” “may,” “will,” “will continue,” “intend,” “should,” “may,” or similar
expressions. Although the Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking
statements are not predictions of future events or guarantees of future performance and the Company’s
2
actual results could differ materially from those set forth in the forward-looking statements. Except as
required by law, the Company undertakes no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise. The Company cautions
investors not to place undue reliance on these forward looking statements and urges investors to carefully
review the disclosures the Company makes concerning risks and uncertainties in the sections entitled “Risk
Factors,” “Forward- Looking Statements,” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in the Company’s Annual Report, as well as risks, uncertainties and
other factors discussed in other documents filed by the Company with the Securities and Exchange
Commission.
###
Additional Contact:
Sean M. Mahoney, Executive Vice President and Chief Financial Officer – (301) 280-7774
For additional information or to receive press releases via email, please visit our website:
http://www.rljlodgingtrust.com
©2023 RLJ Lodging Trust. All Rights Reserved.
3 Bethesda Metro Center, Suite 1000, Bethesda, MD 20814
