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Stock impact report

Orion Properties Inc. Positioned For Continued Business Plan Execution With New $215 Million Revolving Facility and Extension of $355 Million CMBS Loan

Orion Office REIT Inc. (ONL) 
Company Research Source: Business Wire
- Meaningfully Extends Debt Maturity Profile - PHOENIX--(BUSINESS WIRE)--Orion Properties Inc. (“Orion” or the “Company”) (NYSE: ONL) today announced that it has entered into a new $215 million senior secured revolving credit facility and extended its existing $355 million commercial mortgage-backed securities ("CMBS") loan. These transactions meaningfully extend Orion’s debt maturity profile and maintain the Company’s healthy liquidity position.Paul McDowell, Chief Executive Officer and President of Orion, said, “Proactively addressing our near-term maturities has been a key priority and we appreciate our lenders confidence in our business strategy. The successful execution of our new revolving credit facility and the extension of the CMBS loan materially enhances our capital structure and eliminates near-term maturity risk for Orion. The new lower interest rate spread on our revolver and the extension of the CMBS loan at a sub 5% fixed rate along with accompanying principal amort Show less Read more
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