UDR said it entered into a second amendment to its August 14, 2024 second amended and restated credit agreement, extending its $1.3 billion senior unsecured revolving credit facility and adding an extension option to its $350 million senior unsecured term loan.

1. 01

   UDR said it entered into a second amendment to its August 14, 2024 second amended and restated credit agreement, extending its $1.3 billion senior unsecured revolving credit facility and adding an extension option to its $350 million senior unsecured term loan.

2. 02

   The company said that, as amended, the revolving credit facility matures on August 31, 2028 with 2 six-month extension options, and the term loan matures on January 31, 2027 with 1 twelve-month extension option. The extension options are subject to certain conditions.

3. 03

   The company said that, based on its current credit rating, the revolving credit facility carries an applicable margin of 77.5 basis points and a facility fee of 15 basis points, and the term loan carries an applicable margin of 85 basis points.

4. 04

   UDR said the accordion feature allows total commitments under the revolving credit facility and total borrowings under the term loan to be increased to an aggregate maximum of up to $2.5 billion. It also said the term loan margin may be reduced by up to two basis points if the company receives green building certifications.

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