Kilroy Realty Corporation said Thursday that its operating partnership, Kilroy Realty, L.P., has closed on an amended and restated senior unsecured revolving credit facility that permits borrowings of up to $1.1 billion. The term of the facility was extended three years and goes through July 31, 2028 before extension options.
The revolving credit facility also features a sustainability-linked pricing component whereby the pricing can improve by one basis point per annum if the borrower meets certain sustainability performance targets as verified by an independent third-party. Additionally, Kilroy may elect to borrow, subject to additional lender commitments and the satisfaction of certain conditions, up to an additional $500 million through an accordion feature.
“We are extremely pleased to announce the recast of our revolving credit facility, which has allowed us to extend the maturity of the facility by three years, while maintaining total available borrowing capacity,” said CEO Angela Aman. “Our strong banking partnerships continue to provide Kilroy with robust liquidity and financial flexibility as we look to capture outsized growth opportunities and create value for all stakeholders.”
