- Urban Edge Properties ( NYSE: UE ) said Tuesday it amended its unsecured revolving credit facility, increasing its size to $800M from $600M.
- Borrowings under the facility bear interest at a rate of SOFR plus 1.1% with an annual facility fee of 0.15% based on the current leverage ratio as defined in the facility.
- The amended facility also features ESG pricing provision, whereby the applicable interest rate margin can be reduced if UE meets certain sustainability performance targets.
- The facility, which was due to mature on Jan. 29, 2024, will now mature on Feb. 9, 2027 (or, February 9, 2028 if UE exercises each of its two six-month extension options).
- No amounts are currently drawn on the facility.
For further details see:
Urban Edge Properties increases revolving credit facility to $800M