Company: FRT-PC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000034903-25-000016
Chunk: 74

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 74
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1, 20304.50% notes550,000 550,000 4.50 %December 1, 20443.625% notes250,000 250,000 3.625 %August 1, 2046Subtotal3,379,200 Net unamortized debt issuance costs and premium(21,360)Total senior notes and debentures, net3,357,840 Total debt, net$4,473,632 

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(1)The interest rate on this mortgage loan is fixed at a weighted average interest rate of 5.03% through the initial maturity date through three interest rate swap agreements. We have two one-year extensions, at our option to extend the maturity date of this mortgage loan to December 28, 2027.

(2)The interest rate on this mortgage loan is fixed at 3.67% through two interest rate swap agreements. 

(3)The interest rates on these mortgages range from 3.91% to 5.00%.

(4)Our revolving credit facility SOFR loans bear interest at Daily Simple SOFR or Term SOFR and our term loan bears interest at Term SOFR as defined in the respective credit agreements, plus 0.10%, plus a spread, based on our current credit rating.

(5)The maximum amount drawn under our $1.25 billion revolving credit facility during 2024 was $202.7 million and the weighted average effective interest rate on borrowings under our revolving credit facility, before amortization of debt fees, was 6.1%.

(6)The Operating Partnership is the obligor under our revolving credit facility, term loan, and senior notes and debentures. Effective April 1, 2024, a wholly owned subsidiary of the Operating Partnership guarantees the loan.

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Our revolving credit facility, unsecured term loan, and other debt agreements include financial and other covenants that may limit our operating activities in the future. As of December 31, 2024, we were in compliance with all financial and other covenants related to our revolving credit facility, term loan, and senior notes. Additionally, we were in compliance with all of the financial and other covenants that could trigger a loan default on our mortgage loans. If we were to breach any of these financial and other covenants and did not cure the breach within an applicable cure period, our lenders could require us to repay the debt immediately and,