Phillips Edison Closes $350 Million Three-Year Unsecured Term Loan
Bitget2026/10/26 20:25- Phillips Edison & Co. closed a $350 million unsecured term loan facility with KeyBank as administrative agent.
- The three-year facility matures October 23, 2029, with initial annual interest at SOFR plus 0.8%.
- An initial $175 million was drawn, with the remaining $175 million available through April 21, 2027.
- Initial proceeds paid down a $161.8 million term loan and outstanding balances under the borrower's $1 billion revolving credit facility.
- An uncommitted accordion permits up to $450 million in additional term loans, increasing total potential borrowing to $800 million.
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