Hudson Pacific amends, shrinks revolver to $900 million

By William Gullotti

Buffalo, N.Y., Dec. 28 – Hudson Pacific Properties, Inc. amended and downsized its revolving credit facility to $900 million, according to a Wednesday press release.

The amendment also adjusted the provision allowing the company to temporarily extend its unsecured leverage and total leverage thresholds from 60% to 65% in connection with qualifying acquisitions, as well as refined the definitions for assets to improve their treatment under the total leverage and unsecured leverage covenant.

In addition, the amendment also expanded the type of assets included in the unsecured leverage and unencumbered net operating income covenants, including, but not limited to, the company’s studio services businesses.

The December 2026 maturity remained unchanged, including extension options.

The press release did not disclose the administrative agent or lending parties associated with the downsized revolver.

The real estate investment trust is based in Los Angeles.

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