---
schema_version: "secwatch.filing_event.v1"
accession: "0000907254-25-000098"
form_type: "8-K"
ticker: "BFS"
cik: "0000907254"
company_name: "SAUL CENTERS, INC."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T21:14:19.168529+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Saul Centers upsizes credit facility to $600M and extends maturities

## Summary
- New $600M senior unsecured facility replaces $525M facility; $460M revolver and $140M term loan.
- Revolver matures July 30, 2029 (1-yr extension option); term loan matures July 28, 2028 (2 one-year extensions).
- $326M outstanding at closing: $140M term loan and $186M revolver; $106.9M revolver undrawn available.
- Interest at SOFR + 1.35%-1.95% (revolver) and SOFR + 1.30%-1.90% (term); current spreads 1.40% and 1.35%.
- Old credit agreement terminated; financial covenants unchanged (max leverage 0.6:1, min interest coverage 2.0:1).

## SEC filing metadata
- accession: 0000907254-25-000098
- form_type: 8-K
- ticker: BFS
- cik: 0000907254
- company_name: SAUL CENTERS, INC.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/907254/000090725425000098/0000907254-25-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/907254/000090725425000098/bfs-20250730.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000907254-25-000098
- JSON: https://secwatch.observer/filing/0000907254-25-000098.json
- Plain text: https://secwatch.observer/filing/0000907254-25-000098.txt

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