GLADSTONE COMMERCIAL CORP (GOOD): debt financing — Gladstone Commercial enters $20M unsecured term loan with KeyBank, matures May 2027

GLADSTONE COMMERCIAL CORP

Term loan for $20 million, unsecured, due May 30, 2027.
Interest rate: SOFR + 155–200 bps or base rate + 55–100 bps.
KeyBank serves as lender and agent; also a lender under existing credit facility.
Proceeds for general corporate purposes; existing credit facility unchanged.
Customary covenants including restrictions on debt, liens, distributions, and M&A.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GLADSTONE COMMERCIAL CORP incurred term loan of $20.0 million with KeyBank National Association at SOFR plus a margin of 155 to 200 basis points, or a base rate plus a margin of 5 maturing May 30, 2027.

Instrument: term loan
Principal: $20.0 million
Counterparty: KeyBank National Association
Rate: SOFR plus a margin of 155 to 200 basis points, or a base rate plus a margin of 5
Maturity: May 30, 2027
Event: incurrence

Exact text from the filing

for an aggregate amount of $20.0 million. The Term Loan is scheduled to mature on May 30, 2027, and will bear interest at a rate equal to either (i) the secured overnight financing rate (“SOFR”) plus a margin of 155 to 200 basis points, or (ii) a base rate plus a margin of 55 to 100 basis points.

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Source: SEC EDGAR

accession 0001193125-25-133279

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