GLADSTONE COMMERCIAL CORP (GOOD): debt financing — Gladstone Commercial upsizes credit facility to $600M, extends maturities to 2029-2030

GLADSTONE COMMERCIAL CORP

Credit facility increased from $475M to $600M; aggregate term loan component upsized by $50M, revolver by $75M to $200M.
Option to further increase facility by up to $250M for a total of $850M, subject to lender conditions.
Revolving credit maturity extended to October 2029; Term Loan A to October 2029, Term Loan B to February 2030.
Option to extend Term Loan C to February 2029; no material change to applicable interest rate margin.
New facility adds two new banks; KeyBank acts as agent, Bank of America and others as joint lead arrangers.

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 amended credit facility of $600 million with KeyBank National Association, as agent, sole book manager and joint lead arranger, Bank of Amercia, N.A., The Huntington Bank and Fifth Third Bank National Association, as joint lead arrangers and co-syndication agents maturing October 2029 (revolving credit and Term Loan A), February 2030 (Term Loan B).

Instrument: credit facility
Principal: $600 million
Counterparty: KeyBank National Association, as agent, sole book manager and joint lead arranger, Bank of Amercia, N.A., The Huntington Bank and Fifth Third Bank National Association, as joint lead arrangers and co-syndication agents
Maturity: October 2029 (revolving credit and Term Loan A), February 2030 (Term Loan B)
Event: amendment

Exact text from the filing

certain other lenders party thereto (the “Amended Credit Facility”). Among other things, the Amended Credit Facility: • Increased the credit facility size from $475 million to $600 million, with the term loan component of the credit facility being increased to $400 million through, a $35 million reduction to Term Loan A, a $103 million increase to Term Loan B, an

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Source: SEC EDGAR

accession 0001193125-25-238905

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