Phillips Edison & Company Closes on $980 Million Unsecured Credit Facility
On July 2, 2021, PECO closed a new $980 million senior unsecured credit facility (the Facility) led by PNC Bank, National Association as Administrative Agent.
- On July 2, 2021, PECO closed a new $980 million senior unsecured credit facility (the Facility) led by PNC Bank, National Association as Administrative Agent.
- The Facility is comprised of a $500 million revolving credit facility (the Revolver) and two separate $240 million unsecured variable rate term loans (the Term Loans).
- The first $240 million term loan has a maturity in November 2025, and the second $240 million term loan has a maturity in July 2026.
- Phillips Edison & Company, Inc. (PECO), an internally-managed REIT, is one of the nations largest owners and operators of grocery-anchored shopping centers.