---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-019511"
form_type: "8-K"
ticker: "PDM"
cik: "0001042776"
company_name: "Piedmont Realty Trust, Inc."
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T14:36:51.365833+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Piedmont OP enters $200M unsecured term loan to refinance $290M of existing debt

## Summary
- New $200M floating-rate term loan matures Jan 29, 2027; proceeds used to repay $100M Dec 2024 loan and $190M of $215M loan due Jan 31, 2024.
- Remaining $25M of the $215M loan extended to Jan 31, 2025.
- Interest rate set at Adjusted Daily Simple SOFR + 1.30% (Level 4 credit rating).
- Covenants include unencumbered interest coverage >=1.75x, leverage <=0.60x, secured debt <=0.40x.
- Syndicated with Truist as admin agent; JPMorgan and TD Bank as co-syndication agents.

## SEC filing metadata
- accession: 0001193125-24-019511
- form_type: 8-K
- ticker: PDM
- cik: 0001042776
- company_name: Piedmont Realty Trust, Inc.
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042776/000119312524019511/0001193125-24-019511-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042776/000119312524019511/d760797d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-019511
- JSON: https://secwatch.observer/filing/0001193125-24-019511.json
- Plain text: https://secwatch.observer/filing/0001193125-24-019511.txt

## Key facts
- Debt Financings
  Piedmont Realty Trust, Inc. incurred term loan of $200 million at Adjusted Daily Simple SOFR Rate plus 1.30% maturing January 29, 2027.
  - Instrument: term loan
  - Principal: $200 million
  - Rate: Adjusted Daily Simple SOFR Rate plus 1.30%
  - Maturity: January 29, 2027
  - Event: incurrence
  source text: On January 30, 2024, Piedmont Operating Partnership, LP (“Piedmont OP”), a consolidated subsidiary of Piedmont Office Realty Trust, Inc. (the “Registrant”), entered into a $200 million floating rate, unsecured, syndicated bank term loan facility (the “$200 Million Unsecured 2024 Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042776/000119312524019511/0001193125-24-019511-index.htm

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