UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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| Item 1.01 | Entry into a Material Definitive Agreement |
On June 24, 2024, Playa Hotels & Resorts N.V. (the “Company”) and its subsidiary, Playa Resorts Holding B.V. (the “Borrower”), entered into the Second Amendment to Second Amended and Restated Credit Agreement (the “Amendment”), dated as of June 24, 2024, with Deutsche Bank AG New York Branch, as Administrative Agent and lender and the other lenders party thereto from time to time, which Amendment amends the Second Amended and Restated Credit Agreement, dated as of December 16, 2022, among the Company, the Borrower, the Administrative Agent and the financial institutions party thereto as lenders and agents (as amended prior to the date hereof, the “Existing Credit Agreement” and, as amended by the Amendment, the “Credit Agreement). The Amendment amends the Existing Credit Agreement to, among other things, decrease the interest rate applicable to the 2022 Term Loans (as defined in the Credit Agreement) by 0.50% to, at the Borrower’s option, either a base rate plus a margin of 1.75% or SOFR plus a margin of 2.75%.
Except as amended by the Amendment, the terms of the Existing Credit Agreement remain in full force and effect.
The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is attached as Exhibit 10.1 and incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information in Item 1.01 is incorporated by reference into this Item 2.03.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
Exhibit No. |
Description | |
| 10.1 | Second Amendment to Second Amended and Restated Credit Agreement, dated as of June 24, 2024, among Playa Hotels & Resorts N.V., Playa Resorts Holding B.V., as Borrower, the Guarantors party thereto, Deutsche Bank AG New York Branch, as Administrative Agent and lender and the other lenders party thereto from time to time. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PLAYA HOTELS & RESORTS N.V. | ||||||
| Date: June 24, 2024 | By: | /s/ Ryan Hymel | ||||
| Ryan Hymel | ||||||
| Chief Financial Officer | ||||||