Urban Edge Properties announced that it has completed an amendment and restatement to its existing unsecured revolving credit facility increasing the size from $600 million to $800 million. Borrowings under the facility bear interest at a rate of SOFR plus 1.10% with an annual facility fee of 0.15% based on the current leverage ratio as defined in the facility. The recast facility also features an Environmental, Social and Governance (ESG) pricing provision whereby the applicable interest rate margin can be reduced if the Company meets certain sustainability performance targets.

The facility was previously due to mature on January 29, 2024 and now has a maturity date of February 9, 2027 (or, February 9, 2028 if the company exercises each of its two six-month extension options). No amounts are currently drawn on the line of credit.