Brixmor closes $400 million unsecured term loan
BRX•Brixmor Property Group's operating partnership closed a $400 million unsecured delayed-draw term loan to partly fund its Slate Grocery REIT acquisition. The loan matures February 15, 2031, with initial pricing of 80 basis points over SOFR.
1. Loan terms
Brixmor Property Group's operating partnership closed the $400 million unsecured delayed-draw term loan. It matures February 15, 2031, has a 12-month extension option and is initially priced at 80 basis points over SOFR. Wells Fargo is the administrative agent.
2. Facility pricing
The spread on Brixmor's $1.25 billion unsecured revolving credit facility fell to 72.5 basis points over SOFR from 77.5 basis points. The spread on its existing $500 million term loan facility declined to 80 basis points from 85 basis points. Both amended facilities retain their size and maturity.
