Temple Hotels Inc. announced that it has agreed terms to enter into a new credit facility with Morguard Corporation in the amount of $35 million ("Credit Facility B"). The credit facility is for a term of three years and bears interest at the rate of 6.5% per annum. Temple intends to use the proceeds of the Credit Facility B to repay its Series F convertible unsecured subordinated debentures which have a maturity date of March 31, 2018. Temple's existing credit facility from Morguard is not impacted by the new agreement. Credit Facility A is a $13.5 million revolving facility, maturing on November 9, 2018, and bears interest at prime plus 2.0%.