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BSR REIT Announces Accretive Refinancing of Revolving Credit Facility and Extension of Secured Term Loan
BSR REIT Announces Accretive Refinancing of Revolving Credit Facility and Extension of Secured Te...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n\n\nBSR REIT Announces Accretive Refinancing of Revolving Credit Facility and Extension of Secured Term Loan\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nLITTLE ROCK, Ark. and TORONTO, Dec. 8, 2025 /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) (TSX: HOM.UN) announced today that it has refinanced and extended the maturity of its $500 million Senior Secured Revolving Credit Facility (the \"Credit Facility\"). Separately, the REIT also extended its $160 million Secured Term Loan, which encumbers four properties. Both facilities were previously slated to mature in late 2026.\n\"These refinancings are an important development for the REIT,\" said Tom Cirbus, BSR's Chief Financial Officer. \"The improved pricing on our Credit Facility will be immediately accretive to the REIT's cost of capital while significantly extending our largest maturity. Meanwhile, the shorter-term extension of the Secured Term Loan locks in the very favorable cost of capital on that tranche of debt for another year, while providing additional flexibility in our overall debt maturity schedule. We greatly appreciate the longstanding support of our entire bank group, which was clearly demonstrated through these transactions.\"\nThe Credit Facility was extended for a period of four years and will now have an initial maturity in December 2029. The Credit Facility includes a one-year extension option, at the REIT's election, which could further extend the maturity to December 2030, subject to the satisfaction of certain conditions. The Credit Facility bears interest at SOFR plus 1.30% - 1.90% based on meeting certain leverage ratios as set out in the credit agreement. Prior to this refinancing, the Credit Facility carried interest at 1.45% - 1.90%, also based on certain leverage ratios as set out in the credit agreement, plus an additional 0.10% credit spread adjustment at all leverage points. The global credit spread adjustment was removed in connection with the refinancing. No other material amendments were made to the terms of the Credit Facility i...