secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0001193125-23-024178
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312523024178/0001193125-23-024178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312523024178/d436120d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-024178

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