---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-298419"
form_type: "8-K"
ticker: "ONL"
cik: "0001873923"
company_name: "Orion Properties Inc."
filed_at: "2022-12-05T23:59:59+00:00"
generated_at: "2026-06-21T09:49:21.672806+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Orion Office REIT amends credit agreement to replace LIBOR with SOFR benchmark

## Summary
- Amendment changes benchmark rate from LIBOR to SOFR for $425M revolver and $175M term loan.
- Outstanding revolver $9.0M at 6.39% interest; term loan $175M swapped to 3.17% fixed.
- Applicable margin unchanged: 2.50% for SOFR loans, 1.50% for base rate loans.
- Amendment updates provisions for successor interest rates to LIBOR.

## SEC filing metadata
- accession: 0001193125-22-298419
- form_type: 8-K
- ticker: ONL
- cik: 0001873923
- company_name: Orion Properties Inc.
- filed_at: 2022-12-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1873923/000119312522298419/0001193125-22-298419-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1873923/000119312522298419/d428430d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-298419
- JSON: https://secwatch.observer/filing/0001193125-22-298419.json
- Plain text: https://secwatch.observer/filing/0001193125-22-298419.txt

## Key facts
- Material Agreements
  Orion Properties Inc. amended First Amendment with Wells Fargo Bank, N.A., as Administrative Agent and the lenders party thereto (effective 2022-12-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A., as Administrative Agent and the lenders party thereto
  - Effective: 2022-12-01
  source text: On December 1, 2022, Orion Office REIT Inc. (the “Company”), as parent, and its operating partnership, Orion Office REIT LP (“Orion OP”), as borrower, entered into that certain First Amendment (the “Amendment”) to its credit agreement with Wells Fargo Bank, N.A., as Administrative Agent (as amended, the “Revolver/Term Loan Credit Agreement”) and the lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000119312522298419/0001193125-22-298419-index.htm

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