Company: HPP
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001482512-25-000139
Chunk: 0

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive Agreement.

As previously disclosed, on December 21, 2021, Hudson Pacific Properties, L. P., a Maryland limited partnership (the “ Operating Partnership”), entered into a Fourth Amended and Restated Credit Agreement (as amended by that certain First Modification Agreement, dated as of September 15, 2022, that certain Second Modification Agreement, dated as of December 22, 2023, that certain Third Modification Agreement, dated as of May 3, 2024, that certain Fourth Modification Agreement, dated as of January 29, 2025, and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “ Credit Agreement”), by and among, among others, the lenders from time to time party thereto (collectively, the “ Lenders”) and Wells Fargo Bank, National Association, as administrative agent (the “ Administrative Agent”).

On September 10, 2025 (the “ Fifth Amendment Effective Date”), the Operating Partnership, as borrower, entered into a Fifth Modification Agreement (the “ Amendment”) to the Credit Agreement with the Administrative Agent and the Lenders party thereto.

The Amendment, among other items, (a) extends the maturity date of, and increases the aggregate amount of commitments under, a portion of the revolving commitments to create an extended revolving facility in an aggregate principal amount of $462,000,000 (the “ Extended Revolving Commitments”), resulting in an increase of the aggregate amount of commitments under its unsecured revolving credit facility to $795,250,000 of total commitments and (b) modifies certain of the financial maintenance covenants under the Credit Agreement, including (i) increasing the minimum ratio of adjusted EBITDA to fixed charges of the Company and its consolidated subsidiaries from 1.40 to 1.00 to 1.50 to 1.00 for any fiscal quarter ending on or after June 30, 2025, (ii) temporarily reducing the minimum ratio of unencumbered net operating income to unsecured interest expense of the Company and its consolidated subsidiaries from 2.00 to 1.00 to 1.75 to 1.00 for any fiscal quarter ending on or prior to December 31, 2026 and (iii) including a minimum liquidity covenant of not less than $125,000,000 of unrestricted cash, cash equivalents and unused revolving commitments as of the last day of each fiscal