secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001193125-22-203457
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont OP enters $200M unsecured term loan to fund 1180 Peachtree acquisition
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- $200M delayed-draw floating-rate unsecured term loan facility entered July 22, 2022.
- Proceeds used to fund majority of cash purchase price for 1180 Peachtree Street, Midtown Atlanta.
- Initial term of six months, with two optional three-month extensions to July 24, 2023.
- Interest rate: Adjusted Term SOFR + 0.80%-1.65% spread based on credit rating; initially 1.00%.
- Financial covenants include unencumbered interest coverage ≥1.75x, leverage ≤0.60x, secured debt ≤0.40x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312522203457/0001193125-22-203457-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312522203457/d370061d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-203457

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