---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-024178"
form_type: "8-K"
ticker: "PDM"
cik: "0001042776"
company_name: "Piedmont Realty Trust, Inc."
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T00:48:38.408190+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Piedmont OP enters $215M floating-rate term loan to refinance June 2023 notes

## Summary
- $215M unsecured term loan with one-year term and option to extend to Jan 31, 2025.
- Proceeds to repay majority of $350M senior notes due June 1, 2023; balance from cash, dispositions, or revolver.
- Interest at Daily Simple SOFR + 1.05% at closing; spread ranges 0.85%-1.70% based on credit rating.
- Covenants: unencumbered interest coverage ≥1.75, leverage ≤0.60, secured debt ≤0.40.

## SEC filing metadata
- accession: 0001193125-23-024178
- form_type: 8-K
- ticker: PDM
- cik: 0001042776
- company_name: Piedmont Realty Trust, Inc.
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042776/000119312523024178/0001193125-23-024178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042776/000119312523024178/d436120d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-024178
- JSON: https://secwatch.observer/filing/0001193125-23-024178.json
- Plain text: https://secwatch.observer/filing/0001193125-23-024178.txt

## Key facts
- Debt Financings
  Piedmont Realty Trust, Inc. incurred term loan of $215 million at Daily Simple SOFR plus 1.05% maturing January 31, 2025.
  - Instrument: term loan
  - Principal: $215 million
  - Rate: Daily Simple SOFR plus 1.05%
  - Maturity: January 31, 2025
  - Event: incurrence
  source text: On January 31, 2023, Piedmont Operating Partnership, LP (“Piedmont OP”), a consolidated subsidiary of Piedmont Office Realty Trust, Inc. (the “Registrant”), entered into a $215 million, floating-rate, unsecured term loan facility (the “$215 Million Unsecured 2023 Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042776/000119312523024178/0001193125-23-024178-index.htm

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