BXP, Inc. (BXP): debt financing — BXP increases revolving credit capacity by $315M to $1.815B via accordion exercise

BXP, Inc.

Borrowing capacity under credit agreement raised from $1.5B to $1.815B effective September 28, 2023.
New lenders M&T Bank, Sumitomo Mitsui Banking Corporation, and Banco Bilbao Vizcaya Argentaria joined as documentation agents.
All other terms of the Ninth Amended and Restated Credit Agreement remain unchanged.
Certain new lenders or affiliates may provide other financial services to BXP in the ordinary course.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

BXP, Inc. amended revolving credit of $315.0 million increase, maximum borrowing amount increased from $1.5 billion to $1.815 billion with M&T Bank, Sumitomo Mitsui Banking Corporation and Banco Bilbao Vizcaya Argentaria, S.A. at unchanged maturing unchanged.

Instrument: revolving credit
Principal: $315.0 million increase, maximum borrowing amount increased from $1.5 billion to $1.815 billion
Counterparty: M&T Bank, Sumitomo Mitsui Banking Corporation and Banco Bilbao Vizcaya Argentaria, S.A.
Rate: unchanged
Maturity: unchanged
Event: amendment

Exact text from the filing

On September 28, 2023, the Company exercised a portion of the Accordion with M&T Bank, Sumitomo Mitsui Banking Corporation and Banco Bilbao Vizcaya Argentaria, S.A., as new lenders and documentation agents under the Credit Agreement ("New Lenders"). Each of the New Lenders entered into a lender joinder agreement with the Company to provide an aggregate of $315.0 million in additional revolving credit commitments, which increased the current maximum borrowing amount under the Credit Agreement from $1.5 billion to $1.815 billion. All other terms of the Credit Agreement remain unchanged.

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Source: SEC EDGAR

accession 0001656423-23-000042

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