secwatch.observer — SEC 8-K summary
======================================

Issuer:     ONE LIBERTY PROPERTIES INC (OLP)
CIK:        0000712770
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001213900-22-070608
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

One Liberty Properties amends $100M credit facility: extends maturity to 2026, switches to SOFR
--------------------------------------------------------------------------------

- Facility maturity extended from Dec 2022 to Dec 2026; renovation/opex cap raised to $40M or 40% of borrowing base.
- Required unencumbered properties increased to 15 (from 10) with min value $100M (from $75M).
- Property cap rate reduced from 7.625% to 7.25%; tangible net worth requirement raised to $200M plus 80% of future equity.
- Interest rate benchmark changed from 30-day LIBOR to 30-day SOFR; $666,000 fee paid.
- As of Nov 8, $13.8M outstanding, $86.2M available under the facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712770/000121390022070608/0001213900-22-070608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712770/000121390022070608/ea168342-8k_oneliberty.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-070608

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer