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PDM > SEC Filings for PDM > Form 8-K on 22-Aug-2014All Recent SEC Filings




Entry into a Material Definitive Agreement, Creation of a Dire

Item 1.01. Entry into a Material Definitive Agreement
On August 21, 2014, Piedmont Operating Partnership, LP ("Piedmont OP"), a consolidated subsidiary of Piedmont Office Realty Trust, Inc. (the "Registrant"), amended its $300 million unsecured term loan facility originally obtained in November 2011 (the "Facility" or the "$300 Million Unsecured 2011 Term Loan").
The amendment (i) extends the term of the Facility from November 22, 2016 to January 15, 2020; and (ii) decreases the stated interest rate spread over LIBOR from a range of 1.1% - 2.25% to a range of 0.9% - 1.90%. The specific spread in effect from time to time is based upon the credit rating of the Registrant. Currently, the stated interest rate spread on the loan is 1.15%. All other material terms of the facility remain unchanged.
The foregoing does not purport to be a complete description of the terms of the amendment of the $300 Million Unsecured 2011 Term Loan and is qualified in its entirety by reference to Amendment No. 2 to the $300 Million Unsecured 2011 Term Loan agreement, which is attached as Exhibit 10.1 hereto.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

The information set forth under Item 1.01, "Entry into a Material Definitive Agreement" is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits:

Exhibit No.   Description
10.1          Amendment No. 2 To Term Loan Agreement, dated as of August 21, 2014,
              among Piedmont Operating Partnership, LP, as Borrower, Piedmont Office
              Realty Trust, Inc., as Parent, J.P. Morgan Securities, LLC and
              SunTrust Robinson Humphrey, Inc., as Co-Lead Arrangers and Joint Book
              Runners, JPMorgan Chase Bank, N.A., as Administrative Agent, SunTrust
              Bank as Syndication Agent, and the financial institutions party
              thereto as Lenders.

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