Company: EGP
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000049600-25-000100
Chunk: 87

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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Prepaid expenses and other assets                                                                                  6,840 8,316 Total Other assets, net$275,194 290,159 

(10) DEBT

The Company’s debt is detailed below:   June 30,2025December 31,2024 (In thousands)Unsecured bank credit facilities — Variable rate, carrying amount$— — Unamortized debt issuance costs(3,092)(3,595)Unsecured bank credit facilities, net of debt issuance costs(3,092)(3,595)Unsecured debt — Fixed rate, carrying amount (1)1,460,000 1,510,000 Unamortized debt issuance costs(2,529)(2,843)Unsecured debt, net of debt issuance costs1,457,471 1,507,157 Total unsecured debt, net of debt issuance costs$1,454,379 1,503,562 (1)These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.The Company has a $625,000,000 unsecured bank credit facility with a group of 10 banks, which has a maturity date of July 31, 2028. The credit facility contains options for two six-month extensions (at the Company's election) and an additional $625,000,000 accordion (with agreement by all parties). The interest rate on each tranche is reset on a monthly basis and as of June 30, 2025, was Secured Overnight Financing Rate (“SOFR”) plus 73.5 basis points with an annual facility fee of 14 basis points.  As of June 30, 2025, the Company had no variable rate borrowings on this unsecured bank credit facility and an interest 

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

rate of 5.162%.  The Company has a $2,588,000 standby letter of credit pledged on this facility, which reduces borrowing capacity under the credit facility.The Company also has a $50,000,000 unsecured bank credit facility with a maturity date of July 31, 2028, or such later date as designated by the bank; the Company also has two six-month extensions available if the extension options in the $625,000,000 facility