Office Properties Income Trust Announces $425 Million Amended and Restated Secured Credit Facilities
Office Properties Income Trust (Nasdaq: OPI) today announced that it has entered into a second amended and restated secured credit agreement that governs its new $325 million secured revolving credit facility and $100 million secured term loan, or the Facilities.
- Office Properties Income Trust (Nasdaq: OPI) today announced that it has entered into a second amended and restated secured credit agreement that governs its new $325 million secured revolving credit facility and $100 million secured term loan, or the Facilities.
- OPI has a one-year extension option for the $325 million secured revolving credit facility, subject to the payment of an extension fee and satisfaction of certain other customary conditions.
- The Facilities are secured by 19 office properties with a gross carrying value of $942 million.
- The Facilities replace OPI’s previous $750 million unsecured revolving credit facility that was scheduled to mature on January 31, 2024.