04:43 PM EDT, 10/08/2024 (MT Newswires) -- Kite Realty Group Trust ( KRG ) said late Tuesday it has extended the maturity of its $1.1 billion unsecured revolving credit facility by another three years to October 2028.

The real estate manager can extend the loan package either by one-year or twice in six-month increments, subject to payment of an extension fee and other customary conditions. The revolver can also be renegotiated for better terms under certain circumstances, based on pre-determined leverage ratio targets.

The loan package also includes a $250 million unsecured term loan facility maturing in October 2028, but with reduced interest rate to the Secured Overnight Financing Rate plus 0.75% to 1.6%, down from 2% to 2.5%.

Price: 25.90, Change: +0.02, Percent Change: +0.08