Business in the Burbs

Starwood announces revised credit agreement

April

Starwood Hotels & Resorts Worldwide Inc. said that it has successfully neogotiated an amendment to its credit agreements that will keep its borrowing capacity at $1.875 billion. The White Plains-based operator of the Sheraton and Westin chains said that it also pre-paid a $500 million bank loan due June 29 by drawing down a revolving credit agreement. Under the revised agreement, Starwood agreed to upfront fees, higher interest rates and other changes.

This entry was posted on Tuesday, April 28th, 2009 at 4:38 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
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