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July 30, 2015 4:25 PM ET

Hotels, Restaurants and Leisure

Company Overview of Strategic Hotel Funding, LLC

Company Overview

Strategic Hotel Funding, LLC owns and operates upscale and luxury hotels in North America and Europe. Strategic Hotel Funding, LLC was incorporated in 1997 and is based in Chicago, Illinois.

200 West Madison Street

Suite 1700

Chicago, IL 60606-3415

United States

Founded in 1997

Phone:

312-658-5000

Fax:

312-658-5799

Key Executives for Strategic Hotel Funding, LLC

President
Age: 67
Compensation as of Fiscal Year 2015.

Strategic Hotel Funding, LLC Key Developments

Strategic Hotel Funding, L.L.C. Enters into an Amended and Restated Senior Unsecured Credit Agreement with Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated

On May 27, 2015, Strategic Hotel Funding, L.L.C. entered into an amended and restated senior unsecured credit agreement with Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as co-lead arrangers, Deutsche Bank AG New York Branch as the administrative agent and the various financial institutions as are or may become parties thereto. The credit agreement provides the borrower with a $750,000,000 senior unsecured credit facility comprised of a $450,000,000 revolving credit facility and a $300,000,000 term loan. The new credit facility contains an accordion feature, which provides the option to increase the borrowing capacity up to an additional $250,000,000, subject to the satisfaction of customary conditions as set fourth in the credit agreement. The accordion may be exercised in the form of additional revolving loan or term loan commitments. The new credit facility matures on May 27, 2020 and will be used for the borrower's and its subsidiaries' general corporate, limited partnership or limited liability company purposes, including ongoing working capital requirements, capital expenditures and acquisitions. Pursuant to the credit agreement, the Revolver's interest rate is based upon a leverage-based pricing grid ranging from LIBOR plus 1.65% to LIBOR plus 2.40%. The initial interest rate under the Revolver is the sum of LIBOR plus a margin of 1.65% per annum. Pursuant to the credit agreement, the term loan's interest rate is also based upon a leverage-based pricing grid ranging from LIBOR plus 1.60% to LIBOR plus 2.35%. The initial interest rate of the term loan is the sum of LIBOR plus a margin of 1.60% per annum. The new credit facility also includes a $60,000,000 letter of credit sub-facility. Pursuant to the credit agreement, the face amount of all outstanding letters of credit reduces borrowing capacity under the revolver on a dollar-for-dollar basis. The borrower may prepay the new credit facility, in whole or in part and without penalty, subject to certain conditions set fourth in the credit agreement. The new credit facility is also subject to mandatory prepayment under certain circumstances as set fourth in the credit agreement. In addition, if the total amount outstanding under the new credit facility exceeds certain thresholds, the borrower must repay such excess amount immediately and must also provide cash collateral in an amount equal to the excess to collateralize any outstanding letters of credit.

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