RLJ Lodging Trust (the "Company") (NYSE:RLJ) today announced that it successfully completed a $150 million secured financing with Wells Fargo Bank, N.A. The Company used the proceeds from the financing to repay its existing credit facility, which was recently used to temporarily finance a portion of the Company’s $565 million debt refinancing. “This transaction completes our comprehensive $565 million refinancing," said Thomas J. Baltimore, Jr., President and Chief Executive Officer. “We are very pleased with the overall execution and the favorable economic terms of our new debt. The increased flexibility and liquidity from our balance sheet will enable us to continue to seek opportunistic acquisitions and deliver meaningful shareholder returns.” The Company structured three first mortgage loans totaling $150 million that are secured by four assets. The majority of the proceeds from the loans were used to repay the Company’s credit facility, which was recently used to temporarily finance a portion of the Company’s $565 million debt refinancing. The Company’s total number of unencumbered assets is now 110 and these assets make up approximately 70% of the total portfolio’s 2012 pro forma hotel EBITDA. The mortgages are interest only for the first two years and bear a floating rate of LIBOR plus 240 basis points. The base term for each loan is three years with four one-year extension options. Including extensions, this tranche of debt will mature in 2020. The Company expects to realize at least eight million dollars of interest expense savings in 2014 from its comprehensive refinancing, actual savings realized will be predicated on the Company’s final hedging strategy. About Us RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. The Company owns 150 properties, comprised of 148 hotels with more than 22,300 rooms and two planned hotel conversions, located in 22 states and the District of Columbia.