debt
confidence high
sentiment neutral
materiality 0.50
Invitation Homes enters $3.5B new credit facility; repays $2.5B term loan due 2026
Invitation Homes Inc.
- New $1.75B revolver and $1.75B term loan, both maturing September 9, 2028, with two six-month extension options.
- Revolver upsized from $1B (undrawn) to $1.75B; existing $2.5B term loan due Jan 2026 fully repaid.
- Proceeds from term loan, $750M revolver draw, and excess cash used to pay off prior term loan.
- Interest margins: revolver SOFR+0.85% (current), term loan SOFR+0.95%; subject to rating grid.
- New credit agreement includes incremental facility option up to $4B total.