Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
CENTERSPACE incurred term loan of $100,000,000 with PNC Bank, National Association (as administrative agent) and other lenders at SOFR plus applicable margin based on leverage ratio: 1.200%-1.750% for SOFR loan maturing 364 days from November 22, 2022, with one optional 364-day extension.
- Instrument
- term loan
- Principal
- $100,000,000
- Counterparty
- PNC Bank, National Association (as administrative agent) and other lenders
- Rate
- SOFR plus applicable margin based on leverage ratio: 1.200%-1.750% for SOFR loan
- Maturity
- 364 days from November 22, 2022, with one optional 364-day extension
- Event
- incurrence
Exact text from the filing
The Agreement is effective November 22, 2022 and provides the Partnership with a $100,000,000 senior unsecured term loan (the “Credit Facility”). The Credit Facility terminates 364 days following the effective date of the Agreement, but may be extended, subject to certain conditions, for one additional 364-day term.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CENTERSPACE entered into Term Loan Agreement valued at $100,000,000 (effective 2022-11-22).
- Action
- entry
- Agreement
- credit facility
- Value
- $100,000,000
- Effective
- 2022-11-22
Exact text from the filing
On November 22, 2022 Centerspace, LP (the “Partnership”) entered into a Term Loan Agreement (the “Agreement”). The Partner and Centerspace (the “Company”), Centerspace, Inc.
View on SEC.gov