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Sky Harbour Announces Interest Rate Swap on $200MM J.P. Morgan Facility, Locking-in 4.73% Fixed; Welcomes Investors to Upcoming Investor Conferences
Businesswire· 2025-10-21 01:19
Core Viewpoint - Sky Harbour Group Corporation has announced a floating-to-fixed interest rate swap with JPMorgan Chase Bank, resulting in a fixed interest rate of 4.73% on its $200 million tax-exempt warehouse facility [1] Group 1 - The company is focused on building the first nationwide Home Base Operator (HBO) network for business aircraft [1] - The interest rate swap is for a duration of 5 years [1] - The tax-exempt warehouse facility is associated with Sky Harbour Capital II LLC [1]
Postal Realty Trust, Inc. Recasts and Expands Credit Facilities to $440 Million
Globenewswire· 2025-09-22 11:30
Core Points - Postal Realty Trust, Inc. has expanded its aggregate credit facilities to $440 million, enhancing its liquidity and extending the maturity dates of its existing credit facilities [1][2][3] - The new credit facility includes a $150 million senior unsecured revolving credit facility, a $115 million term loan (up from $75 million), and a $175 million delayed draw term loan facility [3][5] - The company has entered into an interest rate swap on $40 million, fixing the SOFR component of the interest rate through January 2030, resulting in an all-in current rate of 4.73% [4][5] Credit Facility Details - The 2025 Credit Facility replaces the prior credit facility and consists of three components: a $150 million revolving credit facility maturing in November 2029, a $115 million term loan maturing in January 2030, and a $175 million delayed draw term loan facility maturing in February 2028 [3][5] - The interest rates for the new facilities are based on SOFR plus a margin, with the revolving facility ranging from 1.5% to 2.0% per annum and the term loan facilities ranging from 1.45% to 1.95% per annum, depending on the company's consolidated leverage ratio [3][5] - The 2025 Credit Facility includes an accordion feature allowing for additional borrowing of up to $150 million under the revolving facility and up to $100 million under the term loan facility or the delayed draw term loan facility [3][5][6] Company Overview - Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,200 properties primarily leased to the United States Postal Service [8]