Easterly Government Properties expanded its financing capacity with a new $200 million senior unsecured term loan, featuring an accordion up to $250 million and maturing in June 2031. The facility offers floating-rate options tied to base rate, Daily Simple SOFR, or Term SOFR, with leverage-based margins from 0.20% to 1.70%, and is guaranteed by the company and certain subsidiaries. Separately, the company amended its 2016 term loan to remove the SOFR credit spread adjustment, aligning pricing mechanics with the new facility and aiming to streamline terms and lower borrowing costs.
Agreement 1: Easterly Government Properties Secures $200 Million Unsecured Term Loan, Accordion to $250 Million
- Agreement type: Senior unsecured term loan facility
- Counterparty: PNC Bank, as Administrative Agent, and other lenders
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: 5 years (matures Jun 2031)
- Reason: Enhance liquidity and financial flexibility
Agreement 2: Easterly Government Properties Amends 2016 Term Loan to Remove SOFR Credit Spread Adjustment
- Agreement type: Amendment to 2016 senior unsecured term loan
- Counterparty: PNC Bank, as Administrative Agent, and lenders including U.S. Bank and Truist Bank
- Signed / Effective: Jun 25 2026 / same
- Reason: Align SOFR terms and reduce borrowing costs
Original SEC Filing:
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