05:18 PM EDT, 10/03/2024 (MT Newswires) -- Pebblebrook Hotel Trust ( PEB ) late Thursday said it has closed a $400 million private placement of 6.375% senior unsecured notes maturing in 2029, and is using the bulk of the proceeds to pay down debt.

The company, through its Pebblebrook Hotel ( PEB ) operating partnership, repaid the entire $43.3 million owed under a term loan due later this month. It also paid down $210 million of the $410 million that was previously due in October 2025 and $100 million in a term loan with $360 million.

The real estate investment trust has no meaningful debt maturing before December 2026.