Terreno Realty gives details on increased $400 million revolver

By Wendy Van Sickle

Columbus, Ohio, July 5 – Details of Terreno Realty Corp.’s revolving credit facility, which was recently increased to $400 million, were reported in an 8-K filing with the Securities and Exchange Commission.

The increase is an expansion from the previous capacity of $250 million, and the company meanwhile decreased the accordion feature by $250 million to $500 million.

Outstanding borrowings under the amended facility are limited to the lesser of the sum of the $400 million revolver and the $100 million term loan maturing in January 2027 or 60% of the value of the unencumbered properties.

Borrowings will bear interest at SOFR plus a credit adjustment of 10 basis points plus an applicable margin that ranges from 100 bps to 145 bps for the revolver and 115 bps to 165 bps for the term loan.

KeyBank, NA is the administrative agent.

KeyBanc Capital Markets, MUFG Union Bank, NA, PNC Capital Markets LLC and Regions Capital Markets served as joint lead arrangers.

MUFG Union Bank, PNC Bank, NA and Regions Banks served as co-syndication agents.

Based in San Francisco, Terreno acquires, owns and operates industrial real estate.

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