Franklin Street Properties enters $217.5M revolver, terminates $600M prior facility

FRANKLIN STREET PROPERTIES CORP /MA/

New $217.5M revolving credit facility with Bank of America, maturing January 12, 2024, with accordion up to $750M.
Prior $600M revolver terminated with no outstanding borrowings; existing $400M term loan ($110M outstanding) unaffected.
Interest rates based on leverage ratio (1.55%-2.35% over SOFR) or optional credit rating grid.
Proceeds for acquisitions, investments, refinancing debt, and general corporate purposes.
Financial covenants include minimum tangible net worth, max leverage ratio, and dividend distribution limit of 95% of FFO.

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