JBG SMITH Properties

$690m committed across 1 active facility, next covenant test Sep 30, 2026. JBGS

Real Estate Investment Trusts

Recent changes

  1. Aug 28, 2026JBG SMITH Properties signs $690m SECOND AMENDED AND RESTATED CREDIT AGREEMENT, matures Aug 2030SEC ↗
Tested quarterlyHeadroom not yet measured0.60x
Total Outstanding Indebtedness to exceed sixty percent (60%) of Capitalization Value, each measured as of the most recently ended fiscal quarter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.50x
The ratio of Combined EBITDA to Fixed Charges, each measured as of the most recently ended fiscal quarter, to be less than 1.50 to 1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.75x
The ratio of Unencumbered Combined EBITDA to Unsecured Interest Expense, each measured as of the most recently ended fiscal quarter, to be less than 1.75 to 1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.55x
Unsecured Indebtedness to exceed fifty-five percent (55%) of Capitalization Value of Unencumbered Assets, each measured as of the most recently ended fiscal quarter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.50x
The ratio of Secured Indebtedness to Capitalization Value, each measured as of the most recently ended fiscal quarter, to exceed 50%.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.10x
The ratio of Total Outstanding Secured Recourse Indebtedness to Capitalization Value, each measured as of the most recently ended fiscal quarter, to exceed 10%.
Read the filing on sec.gov ↗

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SECOND AMENDED AND RESTATED CREDIT AGREEMENT

Signed Aug 27, 2026

Committed
$690m
Matures
Aug 2030
Agent
BANK OF AMERICA, N.A.
TrancheSizeMaturesMargin
Revolving Credit Facility$690mAug 2030130–175 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level 1≤35%130 bpsn/a
Level 2>35% and ≤40%135 bpsn/a
Level 3>40% and ≤45%140 bpsn/a
Level 4>45% and ≤50%150 bpsn/a
Level 5>50% and ≤55%155 bpsn/a
Level 6>55%175 bpsn/a

Lenders: BOFA SECURITIES, INC., WELLS FARGO SECURITIES LLC, CAPITAL ONE, NATIONAL ASSOCIATION, MORGAN STANLEY SENIOR FUNDING, INC., M&T BANK, TRUIST SECURITIES, INC., Bank of America, N.A., Wells Fargo Bank, National Association, Truist Bank, M&T Bank, Morgan Stanley Bank, N.A., Capital One, National Association

No amendments on file yet.

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