Postal Realty Expands Credit Facility to $615M, Cuts Pricing by 30 Bps
PSTL•Postal Realty closed a recast revolving credit facility with $615 million of borrowings and a $335 million accordion feature, extending weighted average maturity by one year. The recast cuts pricing by 30 basis points and incorporates an investment grade pricing grid from Moody’s, S&P and Fitch.
1. Facility Recast and Expansion
Effective July 2, Postal Realty closed on a recast and expanded revolving credit facility, increasing available borrowings to $615 million and adding a $335 million accordion feature. This expansion enhances liquidity and provides capacity for future acquisitions or portfolio investments.
2. Improved Pricing and Extended Maturity
The recast achieved a 30 basis point reduction in facility pricing and extends the weighted average maturity by approximately one year. It also implements an investment grade pricing grid tied to Moody’s, S&P and Fitch ratings, aligning borrowing costs with credit quality.
3. Term Loan Structure and Pricing
The facility comprises a $275 million revolver maturing in November 2030 priced at SOFR plus 1.15–1.55%, a $90 million term loan maturing in February 2028 (75 million at 4.94%, 15 million at SOFR plus 1.10–1.50%), a $100 million term loan maturing in February 2029 at 4.14%, and a $150 million term loan maturing in January 2031 at 3.86%.
4. Share Count and Rating Context
As of June 30, the company had 30.1 million Class A common shares and 38.3 million fully diluted shares outstanding. The recast builds on the BBB investment grade rating awarded by KBRA in February, reinforcing financial strength.
