---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-001638"
form_type: "8-K"
ticker: "EGP"
cik: "0000049600"
company_name: "EASTGROUP PROPERTIES INC"
filed_at: "2023-01-13T23:59:59+00:00"
generated_at: "2026-06-20T15:40:18.276159+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# EastGroup Properties ups revolving credit facility to $625M, shifts to SOFR

## Summary
- Total commitment increased by $200M, from $425M to $625M.
- TD Bank added as Co-Documentation Agent; Huntington National Bank and Associated Bank as new lenders.
- Benchmark rate replaced LIBOR with SOFR; existing LIBOR borrowings converted to Term SOFR.
- Other material terms of credit agreement remain unchanged.

## SEC filing metadata
- accession: 0001140361-23-001638
- form_type: 8-K
- ticker: EGP
- cik: 0000049600
- company_name: EASTGROUP PROPERTIES INC
- filed_at: 2023-01-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49600/000114036123001638/0001140361-23-001638-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49600/000114036123001638/brhc10046420_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-001638
- JSON: https://secwatch.observer/filing/0001140361-23-001638.json
- Plain text: https://secwatch.observer/filing/0001140361-23-001638.txt

## Key facts
- Debt Financings
  EASTGROUP PROPERTIES INC amended credit facility of from $425 million to $625 million with PNC Bank, National Association (as Administrative Agent) at replace LIBOR with SOFR as the benchmark interest rate.
  - Instrument: credit facility
  - Principal: from $425 million to $625 million
  - Counterparty: PNC Bank, National Association (as Administrative Agent)
  - Rate: replace LIBOR with SOFR as the benchmark interest rate
  - Event: amendment
  source text: The Amendment amends the Fifth Amended and Restated Credit Agreement (the “Credit Agreement”), dated June 29, 2021, by and among the Company, the Operating Partnership, PNC Bank, National Association, as Administrative Agent, Regions Bank, as Syndication Agent, Wells Fargo Bank, National Association, Bank of America, N.A. and U.S. Bank National Association, as Co-Documentation Agents, PNC Capital Markets LLC as Sustainability Agent, PNC Capital Markets LLC and Regions Capital Markets, as Joint Lead Arrangers and Joint Bookrunners and the lender parties thereto to, among other things, (i) increase the aggregate commitment of all of the lenders to lend funds under the Credit Agreement by $200 million, from $425 million to $625 million, (ii) add TD Bank, N.A. as a Co-Documentation Agent and The Huntington National Bank and Associated Bank, National Association as lenders under the Credit Agreement and (iii) replace the London interbank offered rate (“LIBOR”) with the secured overnight fin
  evidence_url: https://www.sec.gov/Archives/edgar/data/49600/000114036123001638/0001140361-23-001638-index.htm
- Material Agreements
  EASTGROUP PROPERTIES INC amended First Amendment to Fifth Amended And Restated Credit Agreement and Agreement Regarding Commitment Increase with PNC Bank, National Association, Regions Bank, Wells Fargo Bank, National Association, Bank of America, N.A., U.S. Bank National Association, PNC Capital Markets LLC, Regions Capital Markets, TD Bank, N.A., The Huntington National Bank, Associated Bank, National Association valued at $200 million (effective 2023-01-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association, Regions Bank, Wells Fargo Bank, National Association, Bank of America, N.A., U.S. Bank National Association, PNC Capital Markets LLC, Regions Capital Markets, TD Bank, N.A., The Huntington National Bank, Associated Bank, National Association
  - Value: $200 million
  - Effective: 2023-01-10
  source text: On January 10, 2023, EastGroup Properties, Inc. (the “Company”) and its subsidiary, EastGroup Properties, L.P. (the “Operating Partnership”), entered into the First Amendment to Fifth Amended And Restated Credit Agreement and Agreement Regarding Commitment Increase (the “Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/49600/000114036123001638/0001140361-23-001638-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.