Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
COPT DEFENSE PROPERTIES amended term loan of Existing term loan facility (principal amount unchanged, no new borrowings disclosed) with KeyBank National Association; PNC Bank, National Association; TD Bank National Association; M&T Bank, a New York banking corporation; Wells Fargo Bank, National Association; Fifth Third Bank, National Association; JPMorgan Chase Bank, N.A.; and Synovus Bank at SOFR rate plus 0.85% to 1.700% or base rate (greater of prime rate, Federal Fund maturing January 30, 2026 (maintained) with two 12-month extension options.
- Instrument
- term loan
- Principal
- Existing term loan facility (principal amount unchanged, no new borrowings disclosed)
- Counterparty
- KeyBank National Association; PNC Bank, National Association; TD Bank National Association; M&T Bank, a New York banking corporation; Wells Fargo Bank, National Association; Fifth Third Bank, National Association; JPMorgan Chase Bank, N.A.; and Synovus Bank
- Rate
- SOFR rate plus 0.85% to 1.700% or base rate (greater of prime rate, Federal Fund
- Maturity
- January 30, 2026 (maintained) with two 12-month extension options
- Event
- amendment
Exact text from the filing
• for the Term Loan: • changes to the interest terms of the Term Loan such that the variable interest rate is based on one of the following, to be selected by CDPLP: (1) the SOFR rate for the interest period designated by CDPLP plus 0.85% to 1.700%, as determined by the credit ratings assigned to CDPLP by the Ratings Agencies or otherwise specified under the Amended Credit Agreement; or (2)(a) the greater of: (i) the prime rate of the lender then acting as the administrative agent, (ii) the Federal Funds Rate, as defined in the Amended Credit Agreement, plus 0.50% or (iii) the SOFR rate for a one-month interest period plus 1.0%; plus (b) 0.00% to 0.70%, as determined by the credit ratings assigned to CDPLP by the Ratings Agencies or otherwise specified under the Amended Credit Agreement; and • maintained the Term Loan’s maturity date of January 30, 2026, with the ability for CDPLP to further extend such maturity by two 12-month periods at its option, provided that there is no default u
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
COPT DEFENSE PROPERTIES amended credit facility of $800.0 million aggregate commitment (increased from $600.0 million), which includes lenders' obligation to make revolvin with KeyBank National Association; PNC Bank, National Association; TD Bank National Association; M&T Bank, a New York banking corporation; Wells Fargo Bank, National Association; Fifth Third Bank, National Association; JPMorgan Chase Bank, N.A.; and Synovus Bank at SOFR rate plus 0.725% to 1.400% or base rate (greater of prime rate, Federal Fun maturing October 5, 2029 (extended from October 26, 2026) with two six-month extension options.
- Instrument
- credit facility
- Principal
- $800.0 million aggregate commitment (increased from $600.0 million), which includes lenders' obligation to make revolvin
- Counterparty
- KeyBank National Association; PNC Bank, National Association; TD Bank National Association; M&T Bank, a New York banking corporation; Wells Fargo Bank, National Association; Fifth Third Bank, National Association; JPMorgan Chase Bank, N.A.; and Synovus Bank
- Rate
- SOFR rate plus 0.725% to 1.400% or base rate (greater of prime rate, Federal Fun
- Maturity
- October 5, 2029 (extended from October 26, 2026) with two six-month extension options
- Event
- amendment
Exact text from the filing
• for the Revolving Credit Facility: • an aggregate commitment by the lenders of $800.0 million (increased from $600.0 million), which includes such lenders’ obligation to make revolving loans as well as issue up to $100.0 million under a letter of credit subfacility and up to $100.0 million under a swingline subfacility (same day draw requests);
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