SITE Centers Corp. (NYSE:SITC, Financial), an owner of open-air shopping centers in suburban, high household income communities, announced today that it has refinanced its unsecured revolving credit facility and extended its maturity. The company also refinanced its unsecured term loan and upsized the agreement to $200 million from $100 million, with the additional proceeds available via a delayed draw feature, and extended its maturity. As part of the refinancing, the underlying benchmark will transition to SOFR from LIBOR. The recast facilities also feature a sustainability-linked pricing component whereby the applicable interest rate margin can be reduced if the Company meets certain sustainability performance targets.
SITE Centers Refinances $950 Million Unsecured Revolving Credit Facility and Upsizes Unsecured Term Loan Facility
Jun 06, 2022
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