debt
confidence high
sentiment neutral
materiality 0.50
Easterly Government Properties enters new $400M revolving credit facility, total capacity up to $700M
Easterly Government Properties, Inc.
- New $400M senior unsecured revolver with accordion feature allowing up to $300M additional commitments, total capacity up to $700M.
- Revolver matures June 2028 with two six-month extension options to June 2029.
- Borrowings at Adjusted SOFR plus 1.20%-1.80%; initial spread 1.35% based on leverage ratio.
- Proceeds for general corporate purposes; previous $450M revolver terminated upon funding.
- Press release corrected accordion capacity to $300M (not originally announced $250M).