secwatch.observer — SEC 8-K summary
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Issuer:     OFFICE PROPERTIES INCOME TRUST (—)
CIK:        0001456772
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001104659-24-007865
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPI enters $325M secured revolver and $100M term loan, replacing $750M unsecured facility
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- New $325M secured revolver and $100M secured term loan replace $750M unsecured facility maturing Jan 31, 2024; maturity Jan 29, 2027.
- Borrowed $132M under revolver and full $100M term loan on closing; proceeds used to repay old facility, fees, and general purposes.
- Interest rate is SOFR + 3.50%; facility secured by 19 properties with gross carrying value $941.9M.
- Covenants limit dividend increases above current $0.01/share/quarter and restrict additional debt.
- Change of control includes RMR Group LLC ceasing as business manager.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1456772/000110465924007865/0001104659-24-007865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1456772/000110465924007865/tm244328d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-007865

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