ERP Operating LP enters $2.5B revolving credit facility maturing 2027

EQUITY RESIDENTIAL

New $2.5B unsecured revolving credit facility replaces existing $2.5B facility maturing Nov 2024.
New facility matures Oct 26, 2027, with optional 1-2 year extensions subject to lender consent.
Interest rate based on Term SOFR/Daily SOFR plus spread of 72.5 bps and facility fee of 12.5 bps; tied to credit rating.
Ability to increase borrowings by up to $750M through additional lenders or term loans.
Facility includes sustainability-linked pricing component for interest rate reduction based on sustainability ratings.

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