Federal Realty OP LP: debt financing — Federal Realty OP LP upsizes revolving credit facility to $1.4B, extends maturity to 2030

Federal Realty OP LP

New $1.4B unsecured revolver replaces $1.25B facility; maturity extended to April 12, 2030 from April 5, 2027.
Accordion feature allows expansion up to $2.0B.
SOFR loan margins range 62.5-135 bps; initial margin 72.5 bps at current rating.
Term loan agreements amended to reflect updated terms, including increased operating flexibility and reduced compliance obligations.
As of Dec 31, 2025, $310M drawn on old facility; new facility provides additional liquidity.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Federal Realty OP LP incurred revolving credit of $1.4 billion unsecured revolving credit facility with Wells Fargo Bank, National Association, as Administrative Agent, and the other parties thereto at SOFR plus applicable margin ranging from 62.5 to 135 basis points, initially 72. maturing April 12, 2030, subject to two six-month extensions.

Instrument: revolving credit
Principal: $1.4 billion unsecured revolving credit facility
Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, and the other parties thereto
Rate: SOFR plus applicable margin ranging from 62.5 to 135 basis points, initially 72.
Maturity: April 12, 2030, subject to two six-month extensions
Event: incurrence

Exact text from the filing

The New Credit Agreement consists of a $1.4 billion unsecured revolving credit facility (the “New Facility”) with a maturity date of April 12, 2030, subject to two six-month extensions at the option of the Partnership.

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

Federal Realty OP LP entered into Third Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent valued at $1.4 billion unsecured revolving credit facility, expandable to $2.0 billion (effective 2026-04-14).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as Administrative Agent
Value: $1.4 billion unsecured revolving credit facility, expandable to $2.0 billion
Effective: 2026-04-14

Exact text from the filing

On April 14, 2026, Federal Realty OP LP (the “Partnership”) entered into a Third Amended and Restated Credit Agreement (the “New Credit Agreement”), by and among the Partnership, as Borrower, the financial institutions party thereto and their permitted assignees, as Lenders, Wells Fargo Bank, National Association, as Administrative Agent, and the other parties thereto. The New Credit Agreement replaces that certain Second Amended and Restated Credit Agreement, dated as of October 5, 2022 (as amended, the “Old Credit Agreement”), by and among the Partnership, as Borrower, and the financial institutions party thereto. The Old Credit Agreement consisted of a $1.25 billion unsecured revolving credit facility (the “Old Facility”) with a maturity date of April 5, 2027. As of December 31, 2025, the Old Facility had an outstanding balance of $310.0 million. The New Credit Agreement consists of a $1.4 billion unsecured revolving credit facility (the “New Facility”) with a maturity date of April

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

Federal Realty OP LP terminated Second Amended and Restated Credit Agreement with the financial institutions party thereto valued at $1.25 billion unsecured revolving credit facility (effective 2026-04-14).

Action: termination
Agreement: credit facility
Counterparty: the financial institutions party thereto
Value: $1.25 billion unsecured revolving credit facility
Effective: 2026-04-14

Exact text from the filing

The New Credit Agreement replaces that certain Second Amended and Restated Credit Agreement, dated as of October 5, 2022 (as amended, the “Old Credit Agreement”), by and among the Partnership, as Borrower, and the financial institutions party thereto.

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

Federal Realty OP LP amended Term Loan Agreement (November 17, 2025) with Truist Bank, as Administrative Agent valued at amended to effect changes similar to Updated Terms (effective 2026-04-14).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank, as Administrative Agent
Value: amended to effect changes similar to Updated Terms
Effective: 2026-04-14

Exact text from the filing

and (ii) its Term Loan Agreement, dated as of November 17, 2025, by and among the Partnership, as Borrower, the financial institutions party thereto and their permitted assignees, as Lenders, Truist Bank, as Administrative Agent, and the other parties thereto

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Source: SEC EDGAR

accession 0001193125-26-156973

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