Document/ExhibitDescriptionPagesSize 1: 8-K Current Report HTML 48K
2: EX-10.1 Material Contract HTML 125K
3: EX-99.1 Miscellaneous Exhibit HTML 15K
8: R1 Cover Statement HTML 46K
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Registrant’s telephone number, including area code: (i414) i367-5600
Not Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
i☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
iCommon
stock, $0.01 par value per share
iDOC
iNew York Stock Exchange
Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
o
Item 1.01. Entry into a Material Definitive Agreement.
The information set forth below under Item 2.03 is hereby incorporated by reference into this Item 1.01.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On May
24, 2023, Physicians Realty L.P., a Delaware limited partnership (the “Operating Partnership”), as borrower, and Physicians Realty Trust, a Maryland real estate investment trust (the “Company”), as guarantor, executed a Second Amendment to Third Amended and Restated Credit Agreement (the “Amendment”) with KeyBank National Association, as administrative agent, and the lenders party thereto, pursuant to which the parties amended the Company’s Third Amended and Restated Credit Agreement, dated as of September 24, 2021 (as amended by that certain First Amendment to Third Amended and Restated Credit Agreement, dated as of March 31, 2023 and the Amendment, the “Amended Credit Agreement”).
The
Amendment (i) establishes a new $400 million unsecured term loan with a scheduled maturity date of May 24, 2028 (the “Term Loan”) and (ii) expands the accordion feature, which allows the Operating Partnership to increase borrowing capacity under the Amended Credit Agreement by up to an additional $500 million, subject to customary terms and conditions, for a maximum aggregate principal amount of all revolving commitments and term loans under the Amended Credit Agreement of $1.9 billion.
On May 24, 2023, the Operating Partnership also entered into a fixed-for-floating interest rate swap for the full borrowing amount under the Term Loan, fixing the Daily Simple SOFR (as defined in the Amended Credit Agreement) component of the borrowing rate to 3.593%, a current all-in fixed rate of
4.693%. Both the borrowing and the fixed-for-floating rate swap have a maturity date of May 24, 2028.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Certain of the parties to the Amended Credit Agreement and/or their affiliates have provided and in the future may provide investment banking, commercial banking and/or advisory services to the Company
for which they have in the past received, and may in the future receive, customary fees and expenses.
Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
