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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Key Bank Leads $50MM Credit Facility Upsize for Gladstone Commercial Corp.
Wednesday, November 1, 2017
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Lenders/Participants
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Key Bank [Lender]
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Structure
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Term Loan & Revolver Amendment
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Amount
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$160.000
Million
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Borrower(s)
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Gladstone Commercial Corporation
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Description
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Company amended, extended and upsized its existing, syndicated revolving credit and term loan facility from $110 million to $160 million. The term loan component of the facility was upsized by $50 million to $75 million with the revolving credit facility remaining unchanged at $85 million. The Company used the net proceeds of the amended and upsized facility to term out all previously existing borrowings under the revolving credit facility. The term loan facility has a five year term with a maturity date of October 27, 2022 and the revolving credit facility has a four year term with a maturity date of October 27, 2021. The pricing grid for the amended facility was revised with a spread decrease of 25 basis points for both revolving credit and term loan facility borrowings. The company also executed interest rate caps on the entire term loan facility.
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Industry
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Real Estate
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| Related Tags |
Key Bank
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ABL Advisor
Deal Tables
2025
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