debt
confidence high
sentiment neutral
materiality 0.35
Equity Residential's operating partnership refinances $2.5B revolver, extends maturity to 2030
EQUITY RESIDENTIAL
- New $2.5B unsecured revolving credit agreement signed Dec 3, 2025, replaces existing facility maturing Oct 2027.
- Maturity date extended to Dec 3, 2030; borrower can increase commitments by up to $1.0B with lender consent.
- Interest rate is Term SOFR or Daily Simple SOFR plus 72.5 bps spread; facility fee is 12.5 bps, both linked to credit rating.
- Bank of America acts as Administrative Agent; Wells Fargo, BofA Securities, JPMorgan as joint bookrunners.