ESH Hospitality, a subsidiary of Extended Stay America, is seeking to raise a new $350 million revolving credit facility to replace its existing $250 million revolving credit facility and a new $1.3 billion million term loan.

Deutsche Bank Securities, JPMorgan, Citigroup Global Markets, Goldman Sachs, Merrill Lynch, Morgan Stanley, Barclays Bank, Credit Suisse Securities and Macquarie Capital are acting as joint lead arrangers for the ESH credit facilities.

Deutsche Bank Securities, JPMorgan, Citigroup Global Markets, Goldman Sachs, Merrill Lynch, Morgan Stanley, Barclays Bank and Macquarie Capital also are acting as joint lead arrangers for the revolving credit facility.

In addition, Extended Stay American plans to enter into a new $50 million revolving credit facility to replace its existing $50 million revolving credit facility.

Extended Stay America owns and operates 629 hotels in the U.S. and Canada.