Easterly Government Properties, Inc. announced the amendment and upsizing of its 2018 senior unsecured term loan agreement.
The agreement originally at $174.5 million was increased to $200.0 million.
The company extended the maturity date of the term loan to August 2028 and secured a new accordion feature of $100 million for additional capacity.
Increased Loan Size
The 2018 term loan was upsized from $174.5 million to $200.0 million, providing additional borrowing capacity.
Extended Maturity
The maturity date of the term loan was extended to August 2028 with two possible one-year extension options.
Competitive Terms
The updated loan bears interest at a rate of SOFR plus a spread of 1.20% to 1.70%, enhancing the company's capital flexibility.
- The amendment demonstrates Easterly Government Properties' access to capital at competitive terms.
- Increased borrowing capacity and extended maturity date create a favorable financial position for future growth opportunities.
Easterly Government Properties' amendment of the term loan agreement reflects strategic financial planning to support future growth initiatives.