Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SUN COMMUNITIES INC incurred credit facility of up to $2.0 billion with J.P. Morgan, as Administrative Agent at the current margins are 0.725% for all loans other than ABR loans and 0.000% for maturing January 31, 2030.
- Instrument
- credit facility
- Principal
- up to $2.0 billion
- Counterparty
- J.P. Morgan, as Administrative Agent
- Rate
- the current margins are 0.725% for all loans other than ABR loans and 0.000% for
- Maturity
- January 31, 2030
- Event
- incurrence
Exact text from the filing
Pursuant to the New Credit Agreement, SCOLP may borrow up to $2.0 billion under a revolving loan (the “New Credit Facility”). The New Credit Agreement also permits, subject to the satisfaction of certain conditions, additional borrowings (with the consent of the Administrative Agent and the other lenders) in an amount not to exceed $1.0 billion. The New Credit Facility’s maturity date is January 31, 2030, and, at SCOLP’s option, the maturity date may be extended for two additional six-month periods, subject to the satisfaction of certain conditions. The New Credit Facility offers various interest rates for borrowings under U.S. Dollars (alternate base rate (ABR), Term SOFR Rate and Daily Effective SOFR), Euros (the Adjusted EURIBOR Rate and the Daily Simple SONIA Rate), Canadian Dollars (the Term CORRA Rate and the Daily Simple CORRA) and Australian Dollars (the BBSY Rate,) plus a margin that is determined based on the Company’s credit ratings calculated in accordance with the New Cred
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