secwatch.observer — SEC 8-K summary
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Issuer:     JBG SMITH Properties (JBGS)
CIK:        0001689796
Form:       8-K
Filed at:   2023-06-29T23:59:59+00:00
Accession:  0001104659-23-076334
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JBG SMITH replaces $1.0B credit facility with $750M revolver maturing 2027
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- New $750M senior unsecured revolving credit facility matures June 29, 2027; replaces $1.0B facility due Jan 2025.
- $62M drawn at closing; option to increase by up to $500M in additional commitments or term loans.
- Interest at SOFR + 1.40%-1.85% or base rate + 0.30%-0.75%; sustainability margin adjustment up to 2bps.
- Financial covenants include total leverage ≤60%, EBITDA/fixed charges ≥1.50x, secured leverage ≤50%.
- Bank of America becomes administrative agent; syndication agents include JPMorgan, Wells Fargo, Morgan Stanley, PNC, Capital One.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1689796/000110465923076334/0001104659-23-076334-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1689796/000110465923076334/tm2320105d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-076334

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