JBG SMITH enters $200M term loan, amends credit agreement on Jan 14, 2022

JBG SMITH Properties

New $200M senior unsecured term loan matures Jan 14, 2025; fully drawn to repay existing tranche A-1 term loan.
Interest rate: Term SOFR + 1.05%–1.65%, Daily SOFR + 1.05%–1.65%, or base rate + 0.05%–0.65%.
Amendment reduces cap rate for multifamily properties from 6.0% to 5.75% in financial covenant calculations.
Sustainability margin adjustment allows margin decrease upon achieving certain ESG metrics.
Existing $1.0B revolver ($300M drawn) and $200M tranche A-2 term loan remain unchanged.

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