Boston Properties Limited Partnership, the operational entity of BXP, Inc. (BXP, Financial), has announced a significant amendment to its Tenth Amended and Restated Credit Agreement. This amendment, effective April 22, 2025, was executed with Bank of America, N.A., serving as the administrative agent, along with various lenders.
The primary change introduced by this amendment is the removal of the SOFR conversion adjustment of 10 basis points that was previously applicable to the Closing Date Term Loans. As of the amendment date, Boston Properties had outstanding borrowings amounting to $700 million in principal under these loans. Importantly, aside from this adjustment, the material terms of the Credit Agreement remain unchanged.
The amendment involves several financial institutions, including BofA Securities, Inc., JPMorgan Chase Bank, N.A., and others, which have historically provided and may continue to provide various financial services to Boston Properties and its affiliates.
This strategic financial adjustment reflects Boston Properties' ongoing efforts to optimize its financial obligations and maintain robust relationships with its banking partners. Investors and stakeholders may view this as a positive step towards enhancing the company's financial flexibility.
Should you invest in BXP Inc (BXP, Financial) right now? Before you do it, it’s important to understand the business profitability and stock valuations, and find out what the warning signs are about. See the in-depth BXP Inc (BXP) stock research here.
