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Stock impact report

Urban Edge Properties Upsizes Aggregate Borrowing Capacity to $950 Million with Amended and Extended Credit Facility and $250 Million of Delayed-Draw Term Loans

Urban Edge Properties Common Shares of Beneficial Interest (UE) 
Last urban edge properties common shares of beneficial interest earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.uedge.com
Company Research Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Urban Edge Properties (NYSE: UE) announced today it has entered into $950 million of unsecured credit facilities that expand its borrowing capacity by $150 million and provide extended maturities. The new unsecured credit facilities (collectively, the "credit facilities") are comprised of:An unsecured revolving credit facility that reduced the Company’s existing $800 million unsecured revolving credit facility to $700 million, extending the existing maturity date from February 2027 to June 2030 with two 6-month extension options; and$250 million of delayed-draw term loan facilities (“Term Loans”), split into $125 million 5-year and 7-year components, with the 5-year loan maturing in June 2031 and the 7-year loan maturing in January 2033.Borrowings under the revolving credit facility bear interest at a rate of SOFR plus a spread determined by the Company's leverage ratio which currently equates to SOFR plus 1.00%, with an annual facility fee of 0.15%, sub Show less Read more
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