Indus terminates existing credit facilities due to acquisition

By Mary-Katherine Stinson

Lexington, Ky., June 29 – Indus Realty Trust, Inc. fully repaid and terminated its existing credit agreement dated April 21, 2022 in connection with the closing of the buyout of the company by GIC Real Estate, Inc. and Centerbridge Partners, LP, according to an 8-K filing with the Securities and Exchange Commission.

There were no prepayment penalties because of the termination of the revolving facility, scheduled to mature April 21, 2025. and the term loan and delayed-draw term loan, scheduled to mature April 21, 2027.

JPMorgan Chase Bank, NA was the administrative agent, joint lead arranger and joint bookrunner, and Citibank, NA was the joint lead arranger, joint bookrunner and syndication agent for the company’s existing credit agreement.

The acquisition closed on June 29.

Indus Realty Trust is a New York-based industrial/logistics real estate investment trust.

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