EastGroup Properties takes $250 million unsecured term loan at 4.15% fixed rate
On November 19, 2025, EastGroup Properties and its operating partnership signed a $250 million unsecured term loan with PNC Bank as agent, and the company used interest rate swaps to fix the weighted average rate at 4.15% per year. The same day, they amended the $625 million revolving credit facility and six other unsecured credit facilities and term loans to remove a 0.10% upward interest rate adjustment for SOFR loans.
Key points
- Term loan totals $250 million: Tranche A is $100 million maturing April 30, 2030, and Tranche B is $150 million maturing March 14, 2031.
- Weighted average effectively fixed rate under the loan is 4.15% per year, after interest rate swaps.
- Margin over Daily Simple SOFR is 0.85% as of November 19, 2025, based on current credit ratings and leverage ratio.
- Amendments remove the 0.10% upward SOFR adjustment on the $625 million revolver and other facilities totaling $475 million, with no other material changes reported.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 25, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.