Gladstone Commercial Upsizes and Extends Credit Facility to $600 Million, Led by Key Bank and Partners
Reuters
Oct 14
<a href="https://laohu8.com/S/GOODM">Gladstone Commercial</a> Upsizes and Extends Credit Facility to $600 Million, Led by Key Bank and Partners
Gladstone Commercial Corporation has amended, extended, and upsized its syndicated revolving credit and term loan facility from $475 million to $600 million, with an option to further increase the facility by up to $250 million, bringing the potential total to $850 million. The aggregate term loan component was increased by $50 million, and the revolving credit facility was upsized by $75 million. The revolving credit facility maturity was extended to October 2029, while the maturities for Term Loan A and Term Loan B were also extended to October 2029 and February 2030, respectively. The amended agreement includes an option to extend Term Loan C until February 2029. The facility, led by Key Bank as joint lead arranger and book manager, along with Bank of America, The Huntington National Bank, and Fifth Third Bank National Association, is expected to provide Gladstone Commercial with increased liquidity to support future growth and acquisitions.
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