Brandywine raises term loan to $250 million, extends maturity to 2022

By Wendy Van Sickle

Columbus, Ohio, Oct. 27 – Brandywine Realty Trust and Brandywine Operating Partnership, LP increased their term loan to $250 million and extended the maturity to Oct. 8, 2022, according to the issuers’ 10-Q filed with the Securities and Exchange Commission for the quarter ended Sept. 30.

Prior to the Oct. 8 amendment, the term loan’s capacity was at $200 million, and it was scheduled to mature Feb. 1, 2019.

The company also exercised its option to increase the loan by up to another $150 million.

The loan will bear interest at Libor plus 180 basis points. Through a series of interest rate swaps, the current $250 million outstanding balance will have an effective fixed interest rate of 3.72%.

The real estate investment trust for office and industrial properties is based in Radnor, Pa.

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