debt
confidence high
sentiment neutral
materiality 0.60
Hines Global Income Trust enters $1.35 billion credit facility with JPMorgan; borrows $740M at closing
HINES GLOBAL INCOME TRUST, INC.
- Facility comprises $650M revolver and $700M term loan; can be increased to $1.75B.
- Matures March 12, 2028, with two one-year extension options subject to conditions.
- Borrowed $740M at closing to repay existing July 2021 credit facility (as amended).
- Interest: ABR + 0.40%-1.15% or Adjusted Term SOFR + 1.40%-2.15% based on leverage.
- Requires unencumbered pool of ≥5 U.S. properties, ≥$500M value, ≥80% occupancy.