Ashford Trust amends corporate financing from funds managed by Oaktree.
Global Banking News-October 14, 2021-Ashford Trust amends corporate financing from funds managed by Oaktree
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Ashford Hospitality Trust Inc (NYSE:AHT) on Wednesday reported that it has amended its strategic financing from funds managed by Oaktree Capital Management LP.
Accordingly, the amendment extends Oaktree's USD250m delayed draw commitment until June 2024 if Ashford repays the initial term loan of USD200m and accrued interest at any time before June 2023.
The company said that among other items, the terms of the exit fee were also amended, whereby Oaktree may elect to receive its exit fee as warrants at any time after certain conditions are met and the amendment...
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