Hudson Pacific Properties (HPP) said late Tuesday that it has modified and extended its unsecured revolving credit facility, increasing available borrowings to $795 million from $775 million, with a maturity date at the end of 2026.
The credit line will subsequently offer $462 million in borrowing capacity through 2029, inclusive of extension options, the company said.
The key terms keep pricing at SOFR plus 115 bps to 160 bps, while updating covenants with a higher EBITDA-to-fixed charge ratio and a $125 million liquidity requirement if borrowings top $600 million, it added.