secwatch.observer — SEC 8-K summary
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Issuer:     EASTGROUP PROPERTIES INC (EGP)
CIK:        0000049600
Form:       8-K
Filed at:   2024-06-13T23:59:59+00:00
Accession:  0000049600-24-000082
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EastGroup enters $625M revolver; matures July 2028, repays existing facility
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- New $625M unsecured revolver replaces June 2021 facility; $625M accordion feature included.
- Initial maturity July 31, 2028 with two six-month extension options.
- Initial interest rate at SOFR plus 0.765% (6.10% as of June 13, 2024).
- Sustainability-linked pricing component adjusts margin if ESG targets met.
- Existing $625M facility repaid and terminated; working cash line extended to same maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000082/0000049600-24-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49600/000004960024000082/egp-20240613.htm
  HTML page:      https://secwatch.observer/filing/0000049600-24-000082

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