{"schema_version":"secwatch.filing_event.v1","accession":"0000860546-25-000042","form_type":"8-K","ticker":"CDP","cik":"0000860546","company_name":"COPT DEFENSE PROPERTIES","filed_at":"2025-10-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:42.383988+00:00","generated_at":"2026-05-17T04:08:02.104876+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"COPT Defense boosts revolving credit facility by $200M to $800M, extends maturity to 2029","bullets":["Revolver commitment increased from $600M to $800M; total facility size (incl. term loan) now $925M.","Maturity extended from Oct. 2026 to Oct. 2029; borrower may extend by two additional six-month periods.","Accordion feature raised from $525M to $575M, allowing future increases up to $1.5B aggregate.","Interest rate spreads adjusted: revolver SOFR +0.725%-1.400%; term loan SOFR +0.85%-1.700%.","Term loan of $125M retains Jan. 2026 maturity with two 12-month extension options."],"urls":{"canonical":"https://secwatch.observer/filing/0000860546-25-000042","json":"https://secwatch.observer/filing/0000860546-25-000042.json","markdown":"https://secwatch.observer/filing/0000860546-25-000042.md","text":"https://secwatch.observer/filing/0000860546-25-000042.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/0000860546-25-000042-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/cdp-20251006.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:08:02.104876+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7cd4bae8e832f26d4319751de86cefcf8cc43db3","claim":"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.","evidence_excerpt":"• 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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/0000860546-25-000042-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"Existing term loan facility (principal amount unchanged, no new borrowings disclosed)"},{"label":"Counterparty","value":"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"},{"label":"Rate","value":"SOFR rate plus 0.85% to 1.700% or base rate (greater of prime rate, Federal Fund"},{"label":"Maturity","value":"January 30, 2026 (maintained) with two 12-month extension options"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"a0b76e2f541c14a0f6e6ac6300d3b9bb217035c4","claim":"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.","evidence_excerpt":"• 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);","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/0000860546-25-000042-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$800.0 million aggregate commitment (increased from $600.0 million), which includes lenders' obligation to make revolvin"},{"label":"Counterparty","value":"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"},{"label":"Rate","value":"SOFR rate plus 0.725% to 1.400% or base rate (greater of prime rate, Federal Fun"},{"label":"Maturity","value":"October 5, 2029 (extended from October 26, 2026) with two six-month extension options"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}