On July 30, 2025, Saul Holdings Limited Partnership, the operating partnership of Saul Centers, Inc., finalized a new Credit Agreement with several financial institutions. The agreement, which includes Wells Fargo Securities, Capital One, U.S. Bank, Truist Bank, The Huntington National Bank, Associated Bank, and Atlantic Union Bank as lenders, establishes a New Credit Facility primarily based on the operating income from the Partnership's and its subsidiaries' unencumbered properties. The agreement details interest accruals at the Secured Overnight Financing Rate $(SOFR)$ plus specified spreads, with current applicable spreads of 1.40% for the New Revolving Line and 1.35% for the New Term Loan. Additionally, the agreement includes covenants on investments, liens, and major transactions, as well as a financial covenant limiting the ratio of Total Indebtedness to Total Asset Value to a maximum of 0.6 to 1.0. This new agreement replaces an existing one, continuing Saul Centers Inc.'s strategic financial management.
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