---
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"
generated_at: "2026-05-17T04:08:02.104876+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# COPT Defense boosts revolving credit facility by $200M to $800M, extends maturity to 2029

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000860546-25-000042
- JSON: https://secwatch.observer/filing/0000860546-25-000042.json
- Plain text: https://secwatch.observer/filing/0000860546-25-000042.txt

## Key facts
- Debt Financings
  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
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/0000860546-25-000042-index.htm
- Debt Financings
  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
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/860546/000086054625000042/0000860546-25-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.