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The loan matures Oct. 23, 2029, and initially carries interest at SOFR plus 0.80%. Phillips Edison drew $175 million to repay a $161.8 million term loan and reduce revolver borrowings; another $175 million is available to draw by Apr. 21, 2027. The agreement includes an uncommitted $450 million accordion.
Phillips Edison & Company said it closed a new $350 million unsecured term loan with a three-year term.
Phillips Edison & Company closed a $350 million, three-year unsecured term loan.