Loan & DebtJun 17, 2026, 04:27 PM
Kilroy Realty Recasts, Expands Credit Facilities to $1.5B
AI Summary
Kilroy Realty Corporation's operating partnership, Kilroy Realty, L.P., has recast and expanded its credit facilities. This includes a new $1.25 billion senior unsecured revolving credit facility and an amended $250 million senior unsecured term loan facility. The company extended the maturity dates for both facilities, improved pricing, and increased its total available borrowing capacity, enhancing its liquidity and financial flexibility for general corporate purposes, including acquisitions and development projects.
Key Highlights
- Kilroy Realty's Operating Partnership entered a Fifth Amended and Restated Credit Agreement.
- New senior unsecured revolving credit facility allows borrowings up to $1.25 billion.
- Revolving Credit Facility matures July 31, 2030, extended by two years.
- SOFR borrowing spread for revolving facility improved to 100 bps from 110 bps.
- Term Loan Facility provides $250 million, maturing July 31, 2031.
- Term Loan Facility's SOFR borrowing spread improved to 115 bps from 120 bps.
- Credit Facility includes an accordion feature for an additional $450 million.
- The facility is guaranteed by Kilroy Realty Corporation for general corporate purposes.
Price Impact
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