Golub provides $255m unitranche to Aimbridge

This deal follows on the heels of its largest one-loan facility to date to PetVet.

Golub Capital has lent $255 million to Aimbridge Hospitality so the hotel and resort franchise can refinance existing debt, the firm said on Monday.

The unitranche facility will also provide for future growth at company, according to a statement. Golub’s mid-market lending group was administrative agent, joint bookrunner and joint lead arranger on the deal. 

The borrower is a portfolio company of the private equity firms Lee Equity Partners and General Atlantic, both of which have previously partnered with Golub. However, what was not clear was if the above the new GOLD facility refinanced Golub’s previous loans to the Aimbridge.

Golub BDC held  $807,000 of senior loan debt to Aimbridge with an interest rate of 5.75 percent and maturity of October 2018, according to a first quarter earnings report. The lender’s co-investment vehicle with RGA Reinsurance Company, Senior Loan Fund, also had a $4.99 million senior loan to the hospitality company, which appears to be the same credit.

The Aimbridge franchise operates under the Marriott, Hilton and Hyatt brands. The management company has a portfolio of 700 hotels and resorts in North America and the Caribbean.

Golub and Aimbridge were not immediately available to comment further.

This deals comes the same month that Golub has lead its largest unitranche deal to date, a $675 million facility to US veterinary hospital provider PetVet Care Centers.

Golub’s mid-market lending group provides senior and unitranche GOLD financings for private equity-backed transactions with hold positions of up to $400 million, according to its website. The firm also originates or syndicates credit facilities up to $750 million.