secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2022-06-15T23:59:59+00:00
Accession:  0001193125-22-174832
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont expands credit facility to $600M, extends maturity to 2026
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- Line of credit increased from $500M to $600M; maturity extended from Sept 2022 to June 30, 2026.
- Initial interest rate set at Adjusted SOFR plus 85 bps; spread ranges from 0.725% to 1.40% based on credit rating.
- Borrower may increase facility by up to $500M (total $1.1B) with lender consent.
- Financial covenants include unencumbered interest coverage >= 1.75, net leverage <= 0.60, secured net debt <= 0.40.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312522174832/0001193125-22-174832-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312522174832/d272847d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-174832

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