Kilroy Realty Corporation announced on Thursday that its operating partnership, Kilroy Realty, L.P., has successfully closed an amended and restated senior unsecured revolving credit facility with a borrowing capacity of $1.1 billion. The term of the facility has been extended for three years until July 31, 2028 with options for further extensions.
This updated revolving credit facility includes a sustainability-linked pricing component where the borrower can potentially receive improved pricing by meeting certain sustainability performance targets verified by an independent third-party. Additionally, Kilroy may choose to borrow up to an additional $500 million through this feature subject to lender commitments and specific conditions.
According to CEO Angela Aman, “We are delighted to announce the recast of our revolving credit facility which extends its maturity while maintaining our total borrowing capacity.” She also added that their strong banking partnerships continue to provide them with ample liquidity and financial flexibility as they pursue growth opportunities and create value for all stakeholders.
The article titled “Kilroy Realty Recasts $1.1B Unsecured Credit Facility” was originally published on Connect CRE’s website.
