JBG SMITH refinances revolver to $690M, extends maturities, amends term loans

JBG SMITH Properties

New $690M revolver matures Aug 27, 2030, replacing $750M facility due 2027; $230M drawn at close.
Revolver has two 6-month extension options; capacity can be increased up to $560M in aggregate.
Extended $228.9M of $400M term loan to Aug 2028; $171.1M remains due Jan 13, 2028; added $15M incremental.
Amended $200M and $120M term loans to align covenants with revolver; SOFR spread adjustment removed.
Revolver SOFR spread 1.30%-1.75% and facility fee 0.15%-0.30% based on leverage ratio.

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