Invesco REIT amends revolver to increase amount, transition to SOFR

Chicago, Jan. 24 – Invesco REIT Operating Partnership LP entered into a second amendment to its revolving credit facility with Bank of America, NA as lender on Friday, according to an 8-K filed with the Securities and Exchange Commission.

The maximum amount that can be borrowed was lifted to $150 million from $100 million under the amendment.

Further, a Libor transition amendment was added.

The revolver will transition to SOFR from Libor. The transition includes a credit spread adjustment of 10 basis points for a one-month period, 15 bps for a three-month period or 25 bps for a six-month period.

Under the transition, interest will be set at SOFR plus the spread adjustment plus 100 bps plus an applicable margin based on the company’s leverage ratio.

Based in Dallas, Invesco invests in direct property and publicly traded real estate securities on behalf of institutional investors.

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