CTO Realty Growth closes $1.0B amended credit facility, pushing weighted-average debt maturity to 4.3 years from 1.6

CTO Realty Growth, Inc.

$1.0B facility: $400M revolver due Sept 2030 with two six-month extensions; $150M term loans due Sept 2029 and 2030 (each upsized from $125M); new $150M loans due Sept 2031 and March 2032.
Weighted average maturity of outstanding debt rises to 4.3 years from 1.6 years at closing, excluding extension options; total commitments up $250M, with accordion to $1.5B.
Initial fixed rates from applied SOFR swaps: 5.3% (2029), 4.9% (2030), 4.8% (2031), 3.4% (2032); the 2032 rate steps up to roughly 5.3% in February 2027.
Proceeds repaid the prior $300M revolver, $100M term loan due Jan 2027 and $100M term loan due Jan 2028; the 2017 BMO credit agreement was terminated and discharged.
KeyBank is administrative agent; co-syndication agents include Bank of America, Huntington, PNC, Regions, Truist and Wells Fargo, with pricing set by a leverage-based grid.

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