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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.