BXP Expands Credit Facility, Raises Commercial Paper Program

MT Newswires Live03-31

BXP (BXP) said Monday it increased its unsecured revolving credit facility by $250 million to $2.25 billion and extended its maturity to March 2030.

The company said it also raised its unsecured commercial paper program by $250 million to $750 million and refinanced a $700 million term loan.

BXP said it extended the term loan for an initial four-year term, with two six-month extension options, subject to conditions.

The company fully drew on the loan at closing and used the proceeds to repay an existing $700 million unsecured term loan set to mature in May, BXP said.

As of March 28, $500 million was outstanding under the commercial paper program at a 4.66% weighted-average interest rate, the company said.

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