Kite Realty Group Trust Enters Material Definitive Agreement

TL;DR

KRG just signed a new material definitive agreement, likely a new debt or financial obligation.

AI Summary

On October 3, 2024, Kite Realty Group Trust entered into a material definitive agreement related to a financial obligation. The filing details the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details regarding the nature and terms of this obligation are provided within the filing.

Why It Matters

This filing indicates a new financial commitment or obligation for Kite Realty Group Trust, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce financial risk, depending on the terms and the company's ability to manage them.

Key Players & Entities

• Kite Realty Group Trust (company) — Registrant
• Kite Realty Group, L.P. (company) — Related Entity

FAQ

Key Financial Figures

• $0.01 — e on which registered Common Shares, $0.01 par value per share KRG New York Stoc
• $1.1 billion — ing Credit Agreement provided for (i) a $1.1 billion senior unsecured revolving credit facil
• $300 million — rity date of January 8, 2026 and (ii) a $300 million senior unsecured term loan (the "$300M
• $300M — illion senior unsecured term loan (the "$300M Term Loan") with a scheduled maturity d
• $600 m — ional term loans by up to an additional $600 million, for an aggregate committed amoun
• $2.0 b — an aggregate committed amount of up to $2.0 billion, subject to certain conditions, i
• $250 million — ting Term Loan Agreement provided for a $250 million unsecured term loan (the "$250M Term Lo
• $250M — $250 million unsecured term loan (the "$250M Term Loan") with a scheduled maturity d

Filing Documents

• tm2425694d1_8k.htm (8-K) — 50KB
• tm2425694d1_ex10-1.htm (EX-10.1) — 892KB
• tm2425694d1_ex10-2.htm (EX-10.2) — 709KB
• tm2425694d1_ex10-3.htm (EX-10.3) — 66KB
• 0001104659-24-107033.txt ( ) — 2302KB
• krg-20241003.xsd (EX-101.SCH) — 3KB
• krg-20241003_def.xml (EX-101.DEF) — 26KB
• krg-20241003_lab.xml (EX-101.LAB) — 35KB
• krg-20241003_pre.xml (EX-101.PRE) — 24KB
• tm2425694d1_8k_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Third Amendment to Sixth Amended and Restated Credit Agreement On October 3, 2024, Kite Realty Group Trust, a Maryland real estate investment trust ("Kite Realty"), and Kite Realty Group, L.P., a Delaware limited partnership and the operating partnership of Kite Realty (the "Operating Partnership"), entered into the Third Amendment (the "Third Amendment") to the Credit Agreement (as defined below) with KeyBank National Association ("KeyBank"), as administrative agent, and the lenders party thereto. The Third Amendment amends that certain Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended by the First Amendment to Sixth Amended and Restated Credit Agreement, dated as of October 22, 2021 and the Second Amendment to Sixth Amended and Restated Credit Agreement, dated as of July 29, 2022, the "Existing Credit Agreement," and the Existing Credit Agreement as amended by the Third Amendment, the "Amended Credit Agreement"), among the Operating Partnership (as successor by merger to Retail Properties of America, Inc.), as borrower, KeyBank, as administrative agent, and the lenders from time to time party thereto. The Existing Credit Agreement provided for (i) a $1.1 billion senior unsecured revolving credit facility (the "Revolving Facility") with a scheduled maturity date of January 8, 2026 and (ii) a $300 million senior unsecured term loan (the "$300M Term Loan") with a scheduled maturity date of July 29, 2029. The Existing Credit Agreement also included the option to increase the Revolving Facility and/or incur additional term loans by up to an additional $600 million, for an aggregate committed amount of up to $2.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders to provide such increased amounts. The Third Amendment provides for, among other things, (i) an extension of the maturity date of the Revolving Facility to October 3, 2028

03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1* Third Amendment to Sixth Amended and Restated Credit Agreement, dated as of October 3, 2024, by and among Kite Realty Group, L.P., Kite Realty Group Trust, KeyBank National Association, as Administrative Agent, and the other lenders party thereto 10.2* Second Amendment to Term Loan Agreement, dated as of October 3, 2024, by and among Kite Realty Group, L.P., Kite Realty Group Trust, KeyBank National Association, as Administrative Agent, and the other lenders party thereto 10.3 Amended and Restated Springing Guaranty, dated as of October 3, 2024, by Kite Realty Group Trust in favor of KeyBank National Association, as Agent 104 Cover Page Interactive Data File (embedded with the Inline XBRL document) * Pursuant to Item 601(a)(5) of Regulation S-K, certain schedules and exhibits have been omitted. The registrants hereby agree to furnish a copy of any omitted schedule or exhibit to the Securities and Exchange Commission (the "SEC") upon request by the SEC.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KITE REALTY GROUP TRUST Date: October 8, 2024 By: /s/ Heath R. Fear Heath R. Fear Executive Vice President and Chief Financial Officer KITE REALTY GROUP, L.P. By: Kite Realty Group Trust, its sole general partner By: /s/ Heath R. Fear Heath R. Fear Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR