Regency Centers obtains $2.05 billion of new credit facilities
Regency Centers Corp. and its operating partnership signed an amended credit agreement that provides a $1.5 billion revolving loan and a $550 million term loan, together totaling $2.05 billion. The revolving facility is due in November 2030 and the term loan in February 2031, each with two optional one‑year extensions. Interest is based on SOFR plus a spread of 67.5 basis points for the revolving line and 75 basis points for the term loan, with the spreads linked to the partnership’s credit rating and leverage ratio. Wells Fargo, PNC and U.S. Bank acted as joint bookrunners for both facilities.
Why it matters
The new financing gives Regency Centers additional liquidity for general corporate purposes and possible acquisitions, extending its borrowing capacity through 2031. The rates tied to SOFR and the company’s leverage metrics may affect future interest expense and cash flow.
Key facts
- 1The amended credit agreement provides a $1.5 billion revolving credit facility. investing.com
- 2The agreement also includes a $550 million term loan facility. investing.com
- 3The revolving facility matures on November 8, 2030; the term loan matures on February 10, 2031. investing.com
- 4Both facilities have two optional one‑year extensions. seekingalpha.com
- 5Interest on the revolving line is SOFR plus 67.5 basis points; the term loan carries SOFR plus 75 basis points. investing.com
- 6Wells Fargo, PNC and U.S. Bank served as joint bookrunners for the facilities. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.