debt
confidence high
sentiment positive
materiality 0.60
Gladstone Commercial upsizes credit facility to $480M, extends maturities through 2028
GLADSTONE COMMERCIAL CORP
- Credit facility increased from $325M to $480M; new Term Loan C of $140M added.
- Revolving credit facility increased by $20M to $120M, maturity extended to Aug 2026.
- Term Loan A maturity extended to Aug 2027; Term Loan B to Feb 2026; Term Loan C to Feb 2028.
- Proceeds used to repay maturing mortgage loans and revolver draws; liquidity for acquisitions.
- New lenders include Bank of America, Synovus Bank, United Bank, and First Financial Bank.