Millrose Properties, Inc. (MRP): debt financing — Millrose closes $1.835B unsecured credit facility, adds $500M term loan

Millrose Properties, Inc.

New facility: $1.335B revolver + $500M term loan, total $1.835B unsecured.
Matures March 25, 2030; interest at SOFR + 2.00%-2.50% based on leverage.
Proceeds for general corporate purposes and to refinance existing secured debt.
Prior secured facility liens released; facility replaces secured revolving credit.
CEO cites greater liquidity to serve homebuilding partners; floating-rate debt matches option contracts.

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

Millrose Properties, Inc. incurred term loan of aggregate amount of $500 million with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus an applicable margin at the per annum rate of (i) 2 maturing March 25, 2030.

Instrument: term loan
Principal: aggregate amount of $500 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Adjusted Term SOFR Rate plus an applicable margin at the per annum rate of (i) 2
Maturity: March 25, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for (i) a four-year revolving credit facility with commitments in an aggregate amount of $1.335 billion, (ii) a delayed draw term loan facility in an aggregate amount of $500 million that may be utilized during the first year following the Effective Date

View on SEC.gov

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

Millrose Properties, Inc. incurred credit facility of aggregate amount of $1.335 billion with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus an applicable margin at the per annum rate of (i) 2 maturing March 25, 2030.

Instrument: credit facility
Principal: aggregate amount of $1.335 billion
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Adjusted Term SOFR Rate plus an applicable margin at the per annum rate of (i) 2
Maturity: March 25, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for (i) a four-year revolving credit facility with commitments in an aggregate amount of $1.335 billion, (ii) a delayed draw term loan facility in an aggregate amount of $500 million that may be utilized during the first year following the Effective Date

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Millrose Properties, Inc. amended Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent valued at $1.335 billion (effective 2026-03-25).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Value: $1.335 billion
Effective: 2026-03-25

Exact text from the filing

entered into that certain Amended and Restated Credit Agreement (the “Credit Agreement”) with the lenders party thereto, the issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders, which amended and restated the Company’s prior credit agreement.

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Millrose Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-127640

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