Phillips Edison & Company Closes $350 Million Three-Year Unsecured Term Loan
Phillips Edison & Company closed a new $350 million three-year unsecured term loan maturing October 23, 2029, initially priced at SOFR plus 0.80%. The OP subsidiary drew $175 million at closing to repay a $161.8 million term loan and reduce revolver balances, with the remaining $175 million available through April 21, 2027 and an accordion for up to $800 million total.
Key figures
- Deal Value Usd
- 350000000
- Pricing
- SOFR plus 0.80%
- Maturity
- October 23, 2029
- Accordion
- 450000000
- Delayed draw
- 175000000
- Initial draw
- 175000000
- Total capacity
- $800 million
- Repaid term loan
- 161800000
- Delayed draw deadline
- April 21, 2027
AI analysis
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