WhereDaily News: Supertel Hospitality Amends Loans Reducing Borrowing Costs

NORFOLK, NE--(Marketwired - June 08, 2015) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced that it amended various terms of its $11.2 million revolving credit facility with Great Western Bank, including to extend the maturity date to June 30, 2018; reduce the interest rate from 4.5 percent annually to the prime rate plus 1.0 percent annually (currently, 4.25 percent annually); and remove the 2.0 percent prepayment penalty required with refinancing with another financial institution.

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