secwatch.observer — SEC 8-K summary
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Issuer:     LTC PROPERTIES INC (LTC)
CIK:        0000887905
Form:       8-K
Filed at:   2022-12-21T23:59:59+00:00
Accession:  0001104659-22-129129
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LTC Properties amends credit agreement to replace LIBOR with SOFR plus 10 bps spread
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- First Amendment dated Dec 19, 2022 replaces LIBOR with Term SOFR plus 10 bps credit spread adjustment.
- All other material terms of the Third Amended and Restated Credit Agreement remain unchanged.
- Fixed interest rate swap agreements were concurrently amended to reference SOFR.
- Amendment involves $100M in term loan commitments (2025 and 2026 tranches each $50M) and a revolving facility.
- Standard benchmark transition; no change to total borrowing capacity or financial covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887905/000110465922129129/0001104659-22-129129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887905/000110465922129129/tm2232533d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-129129

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