CEDARHURST, N.Y., Sept. 22, 2025 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE:PSTL) (the "Company"), an internally managed real estate investment trust that owns and manages over 2,200 properties leased primarily to the United States Postal Service (the "USPS"), ranging from last-mile post offices to industrial facilities, today announced it has closed on the recast and expansion of its credit facilities to $440 million (the "2025 Credit Facility") effective September 19, 2025. Because of its entry into the 2025 Credit Facility, the Company was able to extend the maturity dates on each of its existing senior unsecured revolving credit facility (from January 2026 to November 2029) and existing Term Loan (from January 2027 to January 2030).
"We are excited to announce the upsizing of capacity on our unsecured corporate credit facilities and the extension of our debt maturity profile. This transaction increases Postal Realty Trust's liquidity position and sets us up well for continued growth. We are grateful for our strong lender relationships and the continued support of our longtime lending partners," said Jeremy Garber, President and Interim Chief Financial Officer.
The 2025 Credit Facility replaces the Company's existing credit facility (the "Prior Credit Facility") and consists of (i) a $150 million senior unsecured revolving credit facility, which now matures in November 2029 (the "2025 Revolving Facility"), (ii) an upsize in the Company's existing Term Loan from $75 million to $115 million, an increase of 53%, with a new maturity date of January 2030 (the "2025 Term Loan Facility"), and (iii) a $175 million senior unsecured delayed draw term loan facility, which matures in February 2028 (the "2025 DDTL Facility"). Truist Bank is acting as administrative agent and Truist Securities, Inc., M&T Bank and JPMorgan Chase Bank, N.A. are joint lead arrangers and joint book runners for the 2025 Credit Facility. M&T Bank is acting as syndication agent and JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., and Truist Bank are co-documentation agents. Additional lenders in the 2025 Credit Facility include Mizuho Bank Ltd., Stifel Bank & Trust and TriState Capital Bank. The 2025 Credit Facility includes an accordion feature permitting the Company to borrow up to an additional $150 million under the 2025 Revolving Facility and up to an additional $100 million under the 2025 Term Loan Facility or the 2025 DDTL Facility. Each of the 2025 Revolving Facility and 2025 Term Loan Facility may be extended for one additional 12-month period. Borrowings under the 2025 Credit Facility carry an interest rate of, (i) in the case of the 2025 Revolving Facility, SOFR plus a margin ranging from 1.5% to 2.0% per annum and (ii) in the case of the 2025 Term Loan Facility and 2025 DDTL Facility, SOFR plus a margin ranging from 1.45% to 1.95% per annum, in each case depending on the Company's consolidated leverage ratio. Concurrently with entering into the 2025 Credit Facility, using newly advanced funds from the 2025 Term Loan Facility, the Company repaid a portion of the outstanding balance on the 2025 Revolving Facility down to $13 million.
