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Stock impact report

Simon Amends $5B Credit Facility: What It Signals for Growth Plans [Yahoo! Finance]

Kimco Realty Corporation (KIM) 
Last kimco realty corporation earnings: 1/30 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.kimcorealty.com
Company Research Source: Yahoo! Finance
Simon Property Group SPG has taken another step to reinforce its financial flexibility by announcing an amended, restated and extended $5.0 billion multi-currency unsecured revolving credit facility. The facility is scheduled to mature on June 30, 2030 and includes an option to extend the maturity by an additional year through June 30, 2031. The revised terms also lower borrowing costs, as the interest rate for U.S. dollar borrowings has been reduced by 15 basis points to SOFR plus 65 basis points compared with the previous facility. Alongside this move, Simon also amended its existing $3.5 billion revolving credit facility so that its pricing structure matches the terms of the newly announced $5 billion facility. Aligning the pricing across both credit lines strengthens the company's liquidity position and provides greater financial flexibility to support redevelopment projects, acquisitions and other corporate initiatives. The expanded credit facilities are supported by a globa Show less Read more
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