Kimco Realty (NYSE:KIM) has amended and upsized its unsecured term loan to $550M, from the prior amount of $500M.
Proceeds will be used for general corporate purposes, including managing debt maturities and investing opportunistically.
The amendment added one bank with the terms, applicable spread, maturity date and credit covenants unchanged from the term loan agreement dated January 2, 2024 (as amended on May 3, 2024 and July 17, 2024 prior to the date hereof) with Toronto Dominion (Texas) LLC, as administrative agent, and certain lenders party thereto.
Subsequently, the company entered into an interest rate swap agreement, fixing the rate on the incremental term loan to 4.3175%.
