ILPT closes $1.16B fixed-rate loan at 6.399%, repaying $1.235B floating-rate debt

Industrial Logistics Properties Trust

New $1.16B mortgage loan secured by 101 properties, maturing July 2030.
Weighted average fixed interest rate of 6.399% per annum.
Proceeds used to repay $1.235B floating-rate loan in full; that loan agreement terminated.
Loan contains customary covenants and acceleration upon default; limited recourse guarantee provided.
Lenders include Citi, BofA, Morgan Stanley, BMO, RBC, and UBS.

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