InvenTrust Properties Corp. Recasts and Upsizes Its Unsecured Revolving Credit Facility by $150 Million to $500 Million
InvenTrust Properties Corp. (NYSE: IVT) has announced the recast and upsizing of its Unsecured Revolving credit facility from $350 million to $500 million. The maturity date extends to January 2029 with a 6-month extension option. Combined with the unchanged $400 million term loan, the total facility now amounts to $900 million. The facility will be used for general corporate purposes, including acquisitions and working capital. Interest accrues at 105 basis points plus Adjusted Term SOFR, varying with InvenTrust's corporate leverage levels. KeyBanc Capital Markets and Wells Fargo Securities led the arrangement, with KeyBanc National Association serving as Administrative Agent.
InvenTrust Properties Corp. (NYSE: IVT) ha annunciato la ristrutturazione e l'aumento della sua linea di credito non garantita da 350 milioni di dollari a 500 milioni di dollari. La data di scadenza è stata estesa a gennaio 2029 con un'opzione di estensione di 6 mesi. Combinata con il prestito a termine invariato di 400 milioni di dollari, la linea totale ora ammonta a 900 milioni di dollari. La linea sarà utilizzata per scopi aziendali generali, inclusi acquisizioni e capitale circolante. Gli interessi maturano a 105 punti base più l'Adjusted Term SOFR, variando in base ai livelli di indebitamento aziendale di InvenTrust. KeyBanc Capital Markets e Wells Fargo Securities hanno guidato l'organizzazione, con KeyBanc National Association che funge da Agente Amministrativo.
InvenTrust Properties Corp. (NYSE: IVT) ha anunciado la reestructuración y el aumento de su línea de crédito revolving no garantizada de 350 millones de dólares a 500 millones de dólares. La fecha de vencimiento se extiende hasta enero de 2029 con una opción de extensión de 6 meses. Combinada con el préstamo a plazo inalterado de 400 millones de dólares, la instalación total ahora asciende a 900 millones de dólares. La instalación se utilizará para fines corporativos generales, incluyendo adquisiciones y capital de trabajo. Los intereses se acumulan a 105 puntos básicos más Adjusted Term SOFR, variando con los niveles de apalancamiento corporativo de InvenTrust. KeyBanc Capital Markets y Wells Fargo Securities lideraron el acuerdo, con KeyBanc National Association actuando como Agente Administrativo.
인벤트러스트 프로퍼티즈 코프. (NYSE: IVT)는 무담보 회전 신용 시설의 규모를 3억 5천만 달러에서 5억 달러로 확장한다고 발표했습니다. 만기일은 2029년 1월로 연장되며 6개월 연장 옵션이 있습니다. 변경되지 않은 4억 달러의 정기 대출과 결합하여, 총 시설액은 이제 9억 달러에 달합니다. 이 시설은 일반 기업 목적, 특히 인수 및 운전 자본을 위해 사용될 것입니다. 이자는 105 베이시스 포인트에 Adjusted Term SOFR을 더해 산정되며, 인벤트러스트의 기업 레버리지 수준에 따라 달라집니다. 키뱅크 캐피탈 마켓과 웰스파고 증권이 주관자 역할을 했으며, 키뱅크 내셔널 어소시에이션이 행정 대행인으로 활동합니다.
InvenTrust Properties Corp. (NYSE: IVT) a annoncé la restructuration et l'augmentation de sa ligne de crédit revolving non sécurisée de 350 millions de dollars à 500 millions de dollars. La date d'échéance est prolongée jusqu'en janvier 2029 avec une option d'extension de 6 mois. Combinée au prêt à terme inchangé de 400 millions de dollars, la facilité totale s'élève maintenant à 900 millions de dollars. La facilité sera utilisée pour des fins corporatives générales, notamment pour les acquisitions et le besoin en fonds de roulement. Les intérêts sont calculés à 105 points de base plus l'Adjusted Term SOFR, variant avec les niveaux d'endettement d'InvenTrust. KeyBanc Capital Markets et Wells Fargo Securities ont dirigé l'arrangement, avec KeyBanc National Association servant d'Agent Administratif.
InvenTrust Properties Corp. (NYSE: IVT) hat die Umstrukturierung und Erhöhung seiner unbesicherten revolvierenden Kreditlinie von 350 Millionen Dollar auf 500 Millionen Dollar angekündigt. Das Fälligkeitsdatum wurde bis Januar 2029 verlängert, mit einer Option auf eine 6-monatige Verlängerung. In Kombination mit dem unveränderten 400 Millionen Dollar Terminkredit ergibt sich eine Gesamtsumme von 900 Millionen Dollar. Die Kreditlinie wird für allgemeine Unternehmenszwecke, einschließlich Akquisitionen und Betriebskapital, verwendet. Die Zinsen fallen mit 105 Basispunkten zuzüglich des Adjusted Term SOFR an, variierend nach dem Verschuldungsgrad von InvenTrust. KeyBanc Capital Markets und Wells Fargo Securities leiteten die Vereinbarung, wobei KeyBanc National Association als Verwaltungsagent fungierte.
- Increased credit facility capacity by $150 million to $500 million
- Extended maturity date to January 2029
- Total facility size of $900 million provides enhanced financial flexibility
- Maintained existing $400 million term loan
- None.
Insights
This significant refinancing move strengthens IVT's financial flexibility and liquidity position. The
The expanded facility enhances IVT's ability to pursue strategic acquisitions and manage working capital efficiently. With a strong syndicate of major financial institutions backing the facility, this recast demonstrates solid banking relationships and provides a competitive advantage in the retail REIT sector. The leverage-based pricing mechanism incentivizes prudent balance sheet management while maintaining financial flexibility.
Interest on borrowings under the Revolver currently accrues at a spread of 105 basis points plus Adjusted Term SOFR and fluctuates in accordance with changes in InvenTrust’s corporate leverage levels, as defined in the Credit Agreement.
KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC served as Joint Book Managers and Joint Lead Arrangers for the Revolver and KeyBanc National Association is serving as the Administrative Agent. JPMorgan Chase Bank, N.A., BofA Securities, Inc., and PNC Capital Markets LLC served as Joint Passive Bookrunners. Wells Fargo Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A. and PNC Bank, National Association acted as Co-Syndication Agents. Additional support was provided by Fifth Third Bank, National Association,
About InvenTrust Properties Corp.
InvenTrust Properties Corp. is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component. Management pursues the Company's business strategy by acquiring retail properties in Sun Belt markets, opportunistically disposing of retail properties, maintaining a flexible capital structure, and enhancing environmental, social and governance practices and standards.
Forward-Looking Statements
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Investor Relations
Dan Lombardo
Vice President of Investor Relations
630-570-0605
dan.lombardo@inventrustproperties.com
Source: InvenTrust Properties Corp.
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