BXP, Inc. (BXP): debt financing — Boston Properties amends credit agreement to replace LIBOR with SOFR, adds 0.10% spread adjustment

BXP, Inc.

Amendment dated June 1, 2023 to Ninth Amended and Restated Credit Agreement.
Replaces LIBOR-based daily floating rate with SOFR-based daily floating rate.
Adds SOFR-based term floating rates and alternative currency loan options.
Adds SOFR credit spread adjustment of 0.10%.
Other material terms of the credit agreement remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BXP, Inc. amended credit facility with Bank of America, N.A., as administrative agent, and certain lenders at SOFR-based daily floating rate option with a credit spread adjustment of 0.10%.

Instrument: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and certain lenders
Rate: SOFR-based daily floating rate option with a credit spread adjustment of 0.10%
Event: amendment

Exact text from the filing

the Amendment replaced the London interbank offered rate-based daily floating rate option with a Secured Overnight Financing Rate ("SOFR")-based daily floating rate option and added options for SOFR-based term floating rates and rates for alternative currency loans. In addition, the Amendment added a SOFR credit spread adjustment of 0.10%.

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Source: SEC EDGAR

accession 0001656423-23-000034

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