Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

CHH•2026-08-28

Use of proceeds

Proceeds are earmarked for general corporate purposes, including working capital or debt repayment.

Loan terms and covenant package

Interest is set at SOFR with a 0% floor plus 1.25% margin, or a base rate plus 0.25% margin.

Covenants include a maximum 4.5x leverage ratio, temporarily up to 5.5x for acquisitions; the fixed-charge test is waived with an investment-grade rating.

Choice Hotels enters senior unsecured credit agreement

Choice Hotels entered a USD 500 million senior unsecured credit agreement with Wells Fargo as administrative agent on Aug. 28, 2026.

The facility is a USD 500 million unsecured term loan maturing Aug. 28, 2029, with an optional one-year extension subject to lender consent.

Sources

Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

Sec

Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

Use of proceeds

Loan terms and covenant package

Choice Hotels enters senior unsecured credit agreement

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Sources

Choice Hotels enters USD 500 million unsecured term loan with Wells Fargo-led bank group

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