Kilroy Realty Corp. Files 8-K for Material Agreement

TL;DR

Kilroy Realty (KRC) filed an 8-K for a material agreement - details TBD.

AI Summary

On March 6, 2024, Kilroy Realty Corp. entered into a material definitive agreement related to a direct financial obligation. The company also made a Regulation FD disclosure and filed financial statements and exhibits. Specific details regarding the agreement, obligation, or financial statements were not provided in this filing excerpt.

Why It Matters

This filing indicates a significant financial event or agreement for Kilroy Realty Corp., which could impact its financial obligations and operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligation, but the lack of specific details in the excerpt makes it difficult to fully assess the risk.

Key Players & Entities

• Kilroy Realty Corp. (company) — Filer
• Kilroy Realty, L.P. (company) — Filer

FAQ

Key Financial Figures

• $1.1 b — lity") that permits borrowings of up to $1.1 billion, subject to the satisfaction of c
• $1.6 b — term loans up to an aggregate amount of $1.6 billion, subject to obtaining lender comm
• $200 million — The Term Loan Agreement provides for a $200 million senior unsecured term loan facility (th
• $330 m — term loans up to an aggregate amount of $330 million, subject to obtaining lender comm

Filing Documents

• krc-20240306.htm (8-K) — 58KB
• exhibit991.htm (EX-99.1) — 29KB
• kilroylogoa02a.jpg (GRAPHIC) — 9KB
• 0001025996-24-000101.txt ( ) — 277KB
• krc-20240306.xsd (EX-101.SCH) — 3KB
• krc-20240306_def.xml (EX-101.DEF) — 15KB
• krc-20240306_lab.xml (EX-101.LAB) — 27KB
• krc-20240306_pre.xml (EX-101.PRE) — 16KB
• krc-20240306_htm.xml (XML) — 4KB

01 ENTRY INTO A MATERIAL AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL AGREEMENT Revolving Credit Facility On March 6, 2024, Kilroy Realty, L.P. (the "Operating Partnership"), as borrower, entered into a fourth amended and restated credit agreement (the "Credit Agreement") with JPMorgan Chase Bank, N.A., as administrative agent and a lender, and certain other financial institutions party thereto as lenders, which amends and restates and replaces in its entirety that certain third amended and restated credit agreement, dated as of April 20, 2021, by and among the Operating Partnership, JPMorgan Chase Bank, N.A., as administrative agent and a lender, and the other lenders named therein. The Credit Agreement provides for a senior unsecured revolving credit facility (the "Credit Facility") that permits borrowings of up to $1.1 billion, subject to the satisfaction of certain customary conditions. The Credit Facility also includes an accordion feature to increase the revolving commitments or add one or more tranches of term loans up to an aggregate amount of $1.6 billion, subject to obtaining lender commitments and the satisfaction of certain customary conditions. The Operating Partnership expects to use the Credit Facility for general corporate purposes, including funding acquisition, development and redevelopment projects, and repaying debt. The Credit Facility matures on July 31, 2028, which date may be extended by the Operating Partnership by six months on up to two occasions subject to the satisfaction of certain conditions, including payment by the Operating Partnership of an extension fee that is equal to 6.25 basis points of the then-outstanding revolving commitments under the Credit Facility that are the subject of each such extension. The Credit Facility is guaranteed by Kilroy Realty Corporation (the "Company"). The Credit Facility provides that the revolving loans thereunder will bear interest at floating rates, at the Operating Partnership's option, equal to either (x) a term secured overni

01 REGULATION FD DISCLOSURE

ITEM 7.01 REGULATION FD DISCLOSURE On March 6, 2024, the Company issued a press release announcing its entry into the Credit Facility and the Term Loan Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1) shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company or the Operating Partnership under the Exchange Act or the Securities Act of 1933, as amended (the "Securities Act"), except as shall be expressly set forth by specific reference in such a filing.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. 99.1* Press Release dated March 6, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). _______________ * Furnished herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Kilroy Realty Corporation Date: March 6, 2024 By: /s/ Merryl E. Werber Merryl E. Werber Senior Vice President, Chief Accounting Officer and Controller Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Kilroy Realty, L.P. Date: March 6, 2024 By: Kilroy Realty Corporation, Its general partner By: /s/ Merryl E. Werber Merryl E. Werber Senior Vice President, Chief Accounting Officer and Controller

View Full Filing

View this 8-K filing on SEC EDGAR