Safehold gets new $1 billion revolver, replacing $600 million revolver

By Taylor Fox

New York, March 31 – Safehold Inc. replaced its existing $600 million secured revolving credit facility with a new $1 billion unsecured revolving credit facility, according to a news release.

The new facility will bear interest at a rate of Libor plus 100 basis points, a 30 bps savings from the prior facility, subject to a pricing grid based on Safehold’s credit ratings.

The new facility will mature in March 2024 and has two 12-month extension options.

JPMorgan Chase Bank, NA is the administrative agent.

JPMorgan, BofA Securities, Inc. and Goldman Sachs Bank USA are the joint bookrunners and joint lead arrangers on the transaction.

Safehold is the creator of the ground lease industry based in New York.

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