UDR, Inc. Enters Material Definitive Agreement
Ticker: UDR · Form: 8-K · Filed: Aug 19, 2024 · CIK: 74208
| Field | Detail |
|---|---|
| Company | Udr, Inc. (UDR) |
| Form Type | 8-K |
| Filed Date | Aug 19, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $1.3 billion, $350 million, $2.5 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, real-estate
TL;DR
UDR just signed a big new financial deal, filing it with the SEC.
AI Summary
On August 14, 2024, UDR, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, a real estate investment trust, filed this 8-K report with the SEC on August 19, 2024, detailing the specifics of this obligation.
Why It Matters
This filing indicates a new financial commitment or obligation for UDR, Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce new risks related to debt, interest rates, or operational covenants.
Key Players & Entities
- UDR, Inc. (company) — Registrant
- August 14, 2024 (date) — Date of earliest event reported
- August 19, 2024 (date) — Filing date
- Maryland (jurisdiction) — State of incorporation
FAQ
What specific type of material definitive agreement did UDR, Inc. enter into?
The filing indicates the entry into a material definitive agreement that constitutes a direct financial obligation or an obligation under an off-balance sheet arrangement of the registrant, but the specific details of the agreement are not provided in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 14, 2024.
What is UDR, Inc.'s standard industrial classification?
UDR, Inc.'s standard industrial classification is REAL ESTATE INVESTMENT TRUSTS [6798].
What is UDR, Inc.'s state of incorporation?
UDR, Inc. is incorporated in Maryland.
What is the SEC file number for UDR, Inc.?
The SEC file number for UDR, Inc. is 001-10524.
Filing Stats: 1,234 words · 5 min read · ~4 pages · Grade level 11 · Accepted 2024-08-19 16:16:57
Key Financial Figures
- $0.01 — ch registered Common Stock , par value $0.01 UDR New York Stock Exchange Indica
- $1.3 billion — (the "Credit Agreement"), extended the $1.3 billion senior unsecured revolving credit facil
- $350 million — ") and added an extension option to the $350 million senior unsecured term loan (the "Term L
- $2.5 b — to an aggregate maximum amount of up to $2.5 billion, subject to certain conditions in
Filing Documents
- udr-20240814x8k.htm (8-K) — 50KB
- udr-20240814xex10d1.htm (EX-10.1) — 1420KB
- udr-20240814xex10d1001.jpg (GRAPHIC) — 3KB
- 0000074208-24-000070.txt ( ) — 1823KB
- udr-20240814.xsd (EX-101.SCH) — 4KB
- udr-20240814_def.xml (EX-101.DEF) — 3KB
- udr-20240814_lab.xml (EX-101.LAB) — 16KB
- udr-20240814_pre.xml (EX-101.PRE) — 10KB
- udr-20240814x8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On August 14, 2024, UDR, Inc. (the "Company"), as borrower, entered into a second amendment to the second amended and restated credit agreement, which amended that certain second amended and restated credit agreement (the "Credit Agreement"), extended the $1.3 billion senior unsecured revolving credit facility (the "Revolving Credit Facility") and added an extension option to the $350 million senior unsecured term loan (the "Term Loan"). The Credit Agreement includes an accordion feature that allows the total commitments under the Revolving Credit Facility and the total borrowings under the Term Loan to be increased to an aggregate maximum amount of up to $2.5 billion, subject to certain conditions including obtaining commitments from one or more lenders. As amended, the Revolving Credit Facility has a scheduled maturity date of August 31, 2028, with two six-month extension options, subject to certain conditions. As amended, the Term Loan has a scheduled maturity date of January 31, 2027, with one twelve-month extension option, subject to certain conditions. Wells Fargo Bank, National Association served as Administrative Agent, and Wells Fargo Securities, LLC and JPMorgan Chase Bank, N.A. served as Joint Bookrunners, and together with PNC Capital Markets LLC, U.S. Bank National Association, Regions Capital Markets, a Division of Regions Bank, TD Bank, N.A. and Truist Securities, Inc. served as Joint Lead Arrangers. JPMorgan Chase Bank, N.A. served as Syndication Agent, PNC Bank, National Association, U.S. Bank National Association, Regions Bank, Bank of America, N.A., Citibank, N.A. TD Bank, N.A. and Truist Bank served as Documentation Agents. Wells Fargo Securities, LLC served as Term Sustainability Structuring Agent. Based on the Company's current credit rating, the Revolving Credit Facility has an applicable margin of 77.5 basis points and a facility fee of 15 basis points, and the Term Loan has an appli
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Ex. No. Description 10.1 Second Amendment to Second Amended and Restated Credit Agreement dated as of August 14, 2024 . 104 Cover Page Interactive Data File – The cover page XBRL tags are embedded within the Inline XBRL document
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. UDR, Inc. August 19, 2024 By: /s/ Joseph D. Fisher Joseph D. Fisher President and Chief Financial Officer (Principal Financial Officer)