Easterly Government Properties closes $200M term loan facility, matures June 2031

Easterly Government Properties, Inc.

Easterly closed $200M senior unsecured term loan (accordion up to $250M) maturing June 2031.
Net proceeds will repay borrowings under $400M revolving credit facility and for general corporate purposes.
Borrowings bear interest at SOFR plus spread of 1.20%-1.70%; initial spread set at 1.30%.
Eleventh amendment to 2016 term loan removes credit spread adjustment on SOFR borrowings.
Joint bookrunners: U.S. Bank, PNC Capital Markets, Truist Securities.

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