secwatch.observer — SEC 8-K summary
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Issuer:     SmartStop Self Storage REIT, Inc. (SMA)
CIK:        0001585389
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0000950170-24-018975
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartStop Self Storage REIT closes $650M revolving credit facility, expandable to $1.5B
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- New $650M revolving credit facility with accordion feature up to $1.5B; matures Feb 22, 2027 with one-year extension option.
- Initial draw of ~$576M used to repay prior credit facility; interest at Daily Simple SOFR + 175 bps initially.
- Facility was 1.5x oversubscribed with commitments from 12 financial institutions; KeyBank leads as administrative agent.
- SmartStop can elect to release pledges and become unsecured upon meeting financial conditions, reducing credit spread.
- Borrowings available in USD or CAD; supports growth plans in U.S. and Canada.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1585389/000095017024018975/0000950170-24-018975-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1585389/000095017024018975/ck0001585389-20240222.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-018975

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer