Postal Realty Trust (NYSE:PSTL) Enters Into Amendment to Credit Agreement with Truist Bank

Postal Realty Trust, Inc. recently announced on October 25, 2024, that it has entered into a significant agreement with Truist Bank regarding an amendment to its Credit Agreement. This amendment, known as the Third Amendment, involves a Resignation and Appointment of Administrative Agent, L/C Issuer, and Swingline Lender.

The Third Amendment replaces the Bank of Montreal with Truist Bank as the administrative agent, letter of credit issuer, and swingline lender. Additionally, as part of the amendment, there is an increase in the delayed draw term loan commitments by an aggregate principal amount of up to $50.0 million. On the Effective Date of the agreement, Postal Realty Trust borrowed $40.0 million of these newly increased delayed draw term loan commitments.

The company made this announcement in a Form 8-K filing with the Securities and Exchange Commission, specifying that this amendment to the Credit Agreement is in effect as of the Effective Date mentioned. The full details of the amendment, as well as the Credit Agreement itself, are available in the official document attached as Exhibit 10.1 to the filing.

This move by Postal Realty Trust signifies a strategic financial decision aimed at optimizing its financial structure and ensuring the availability of capital for its operational and growth needs. The agreement with Truist Bank highlights the company’s efforts to manage its financial obligations efficiently and prudently.

Investors and market analysts are likely to observe the impact of this agreement on Postal Realty Trust’s financial position and future prospects, as the company continues to navigate the dynamic real estate market landscape.

In conjunction with this filing, no further financial statements or exhibits were disclosed, and the company’s leadership signed off on the report on October 28, 2024, as indicated in the SEC filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Postal Realty Trust’s 8K filing here.

About Postal Realty Trust

Postal Realty Trust, Inc (NYSE: PSTL) is an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service ("USPS"). PSTL is focused on acquiring the network of USPS properties, which provide a critical element of the nation's logistics infrastructure that facilitates cost effective and efficient last-mile delivery solutions.