Ashford Pays Down Debt, Extends $203M Mortgage Loan

Law360, New York (December 12, 2011, 5:15 PM EST) -- Ashford Hospitality Trust Inc. has addressed a $203 million mortgage loan that was set to mature in December by paying down the debt by $25 million and extending its maturity date until March 2014, the Dallas-based hotel investor said Monday.

The restructuring of the loan, now valued at $178 million, means Ashford has "addressed upcoming debt maturities and is well-positioned regarding the next few years," it said.

"We are very pleased to announce this restructuring and extension with a market pay down which preserves our cash...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.