NSA amends KeyBank credit facility to $1.955B, extends maturities, repays $175M loan

National Storage Affiliates Trust

Total borrowing capacity increased by $405M to $1.955B; expansion option to $2.5B.
Revolver increased to $950M maturing Jan 2027 with two 6-month extension options.
Term loans: B $275M (extends to Jan 2025), C $325M (Jan 2025), D $275M (Jul 2026), E $130M (Mar 2027).
Capitalization rate for gross asset value reduced from 6.75% to 6.5%.
Repaid $175M outstanding under Capital One facility maturing June 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

National Storage Affiliates Trust amended Third Amended and Restated KeyBank Credit Facility with KeyBank National Association, as administrative agent, and a syndicated group of lenders valued at $1.955 billion (effective 2023-01-03).

Action: amendment
Agreement: credit facility
Counterparty: KeyBank National Association, as administrative agent, and a syndicated group of lenders
Value: $1.955 billion
Effective: 2023-01-03

Exact text from the filing

On January 3, 2023, NSA OP, LP (the " Operating Partnership "), as borrower, National Storage Affiliates Trust (the " Company "), and certain of the Operating Partnership's subsidiaries, as subsidiary guarantors, entered into a third amended and restated credit agreement with KeyBank National Association, as administrative agent, and a syndicated group of lenders party thereto.

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

National Storage Affiliates Trust filing history →

Source: SEC EDGAR

accession 0001628280-23-000083

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.