Kilroy Realty Recasts and Expands Credit Facilities
Kilroy Realty Corporation (NYSE: KRC) (the “Company”) today announced that its operating partnership, Kilroy Realty, L.P. (the “Borrower”), has closed on a fifth amended and restated senior unsecured revolving credit facility that permits borrowings of up to $1.25 billion (the “Revolving Credit Facility”). The term of the Revolving Credit Facility was extended two years and now matures July 31, 2030, prior to the exercise of available extension options. Additionally, the Borrower closed on an amended and restated senior unsecured term loan facility (the “Term Loan Facility”) that matures on July 31, 2031. The Term Loan Facility provides for a $250 million senior unsecured term loan, of which $200 million was previously outstanding under the prior term loan agreement and remains outstanding, and $50 million of which represents additional delayed draw term loan commitments available to be drawn through June 11, 2027.
“We are pleased to announce the recast of our Revolving Credit and Term Loan Facilities, which has allowed us to extend the maturity dates, improve pricing, and increase total available borrowing capacity,” stated Angela Aman, Chief Executive Officer of the Company. “We are grateful to our strong banking partnerships, which continue to provide Kilroy with robust liquidity and financial flexibility as we look to create value for all stakeholders.”
