secwatch.observer — SEC 8-K summary
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Issuer:     Orion Properties Inc. (ONL)
CIK:        0001873923
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001193125-22-298419
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1873923/000119312522298419/0001193125-22-298419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1873923/000119312522298419/d428430d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-298419

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer