Kite Realty cuts borrowing costs: eliminates SOFR adjustment, lowers term loan margins

KITE REALTY GROUP TRUST

Eliminated 0.10% SOFR spread adjustment on $1.1B revolver and $300M term loan.
Reduced margin on $300M term loan from 1.15%-2.20% to 0.75%-1.60%.
Eliminated 0.10% SOFR spread adjustment on $250M term loan (matures Oct 2027).
Maturities unchanged: revolver Oct 2028, $300M term July 2029.
Amendments executed July 28, 2025 with KeyBank as administrative agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

KITE REALTY GROUP TRUST amended term loan with KeyBank National Association at elimination of the 0.10% SOFR spread adjustment component of the interest rate a.

Instrument: term loan
Counterparty: KeyBank National Association
Rate: elimination of the 0.10% SOFR spread adjustment component of the interest rate a
Event: amendment

Exact text from the filing

The Fourth Amendment provides for certain pricing adjustments applicable to each of the Revolving Facility and the $300M Term Loan, including, among other things, (i) the elimination of the 0.10% SOFR spread adjustment for all loans and (ii) with respect to the $300M Term Loan, a decrease in the interest rate margin from a range of 1.15% to 2.20% to a range of 0.75% to 1.60%, in each case, with the applicable margin level determined according to the credit rating of the Operating Partnership.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

KITE REALTY GROUP TRUST amended term loan with KeyBank National Association at elimination of the 0.10% SOFR spread adjustment component of the interest rate a.

Instrument: term loan
Counterparty: KeyBank National Association
Rate: elimination of the 0.10% SOFR spread adjustment component of the interest rate a
Event: amendment

Exact text from the filing

The Third Amendment provides for the elimination of the 0.10% SOFR spread adjustment component of the interest rate applicable to the $250M Term Loan.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

KITE REALTY GROUP TRUST amended revolving credit with KeyBank National Association at elimination of the 0.10% SOFR spread adjustment for all loans.

Instrument: revolving credit
Counterparty: KeyBank National Association
Rate: elimination of the 0.10% SOFR spread adjustment for all loans
Event: amendment

Exact text from the filing

The Fourth Amendment provides for certain pricing adjustments applicable to each of the Revolving Facility and the $300M Term Loan, including, among other things, (i) the elimination of the 0.10% SOFR spread adjustment for all loans and (ii) with respect to the $300M Term Loan, a decrease in the interest rate margin from a range of 1.15% to 2.20% to a range of 0.75% to 1.60%, in each case, with the applicable margin level determined according to the credit rating of the Operating Partnership.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-25-072159

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