XML 32 R21.htm IDEA: XBRL DOCUMENT v3.23.2
Subsequent Events
6 Months Ended
Jun. 30, 2023
Subsequent Events  
Subsequent Events

Note 13 – Subsequent Events

In connection with the preparation of its financial statements, the Company has evaluated events that occurred subsequent to June 30, 2023 through the date on which these financial statements were issued to determine whether any of these events required disclosure in the financial statements.

On July 31, 2023, the Company closed on an unsecured $350 million 5.5-year term loan which includes an accordion option that allows the Company to request additional lender commitments up to a total of $500 million and matures in January 2029. The Company will use the existing $350 million of forward starting interest rate swaps to fix the interest rate on the term loan at 4.52% over the 5.5-year period. The unsecured term loan contains customary covenants substantially similar to the Company’s Revolving Credit Facility.