Saul Centers upsizes credit facility to $525M, extends maturities to 2025/2027

SAUL CENTERS, INC.

New $525M facility ($425M revolver + $100M term loan) replaces $400M prior facility, increasing capacity by $125M.
Revolver matures Aug 31, 2025 (extendable by 1yr); term loan matures Feb 28, 2027 (no extension).
Currently $197M drawn ($100M term, $97M revolver); revolver has $222.1M borrowing availability, $185M committed for letters of credit.
Interest spread: revolver LIBOR+1.35%-1.95%, term loan LIBOR+1.30%-1.90%; currently 1.40% revolver, 1.35% term loan.
Seven-bank syndicate led by Wells Fargo, Capital One, TD Bank, US Bank, Regions, PNC, Associated Bank.

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