Orion Office REIT Inc. announced that it has closed an amendment of its credit agreement. Under the terms of the amendment, Orion used borrowings from its currently undrawn $425 million senior revolving credit facility (the “Revolving Facility”) to repay and retire the outstanding balance of its $175 million senior term loan facility scheduled to mature on November 12, 2023. The amendment also provides Orion with the option to extend the Revolving Facility for an additional 18 months to May 12, 2026 from the current scheduled maturity of November 12, 2024.

The extension option is subject to customary conditions including the payment of an extension fee. Wells Fargo Bank, National Association will remain the administrative agent for the Company’s credit agreement, and Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Mizuho Bank Ltd. and TD Bank, N.A, acted as joint lead arrangers for the amendment.