Hudson Pacific Properties, Inc. (NYSE: HPP) announced the amendment and extension of its unsecured revolving credit facility.
The amendment increases permitted borrowings to $795 million with a maturity date at year-end 2026.
The extension provides access to $462 million of permitted borrowings maturing year-end 2029.
Increased Borrowing Capacity
Permitted borrowings increased to $795 million from $775 million.
Extended Maturity Dates
Access to $462 million of permitted borrowings with maturity date at year-end 2029.
Modification of Covenants
Changes in interest rates, EBITDA ratio, and liquidity covenant to enhance flexibility.
- The amendment and extension provide significant financial flexibility to Hudson Pacific Properties.
- The adjustments in covenants indicate a strategic move to align with the company's future objectives.
Hudson Pacific's enhanced credit facility positions the company well for strategic growth and operational stability in the coming years.