On June 11, 2025, Seritage Growth Properties announced a voluntary prepayment of $40 million towards its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska. This marks a substantial reduction in the company's outstanding debt.
With this prepayment, the total amount repaid on the term loan facility since December 2021 has reached $1.4 billion. The outstanding principal balance on the facility is now $200 million.
The current prepayment is expected to reduce Seritage's total annual interest expense related to the term loan facility by approximately $2.8 million. The cumulative annual interest expense reduction from all repayments since December 2021 now totals approximately $99.4 million.
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