InvenTrust Properties Corp. announced on October 23, 2024, the successful recast and upsizing of its Unsecured Revolving Credit Facility. The capacity of the Revolver has been increased by $150 million, raising it from $350 million to $500 million. This expansion provides InvenTrust with greater financial flexibility and increased liquidity for its operations.
The maturity date on the Revolver has been extended to January 2029, with an additional one 6-month extension option available, subject to an extension fee. This extension improves the company's debt maturity profile, providing longer-term access to capital. The total unsecured credit facility now stands at $900 million, including an unchanged $400 million term loan.
Interest on borrowings under the Revolver currently accrues at a spread of 105 basis points plus Adjusted Term SOFR, with fluctuations based on changes in InvenTrust’s corporate leverage levels. The increased facility is available for general corporate purposes, including funding acquisitions and other working capital needs, supporting the company's strategic growth in Sun Belt markets.
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