Seritage Growth Properties (SRG) Makes $50M Loan Prepayment

Seritage Growth Properties (NYSE: SRG) today announced that on June 7, 2023, the Company made a voluntary prepayment of $50 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska.

With the prepayment, the Company has now repaid a total of $1.05 billion since December 2021 and $550 million of the term loan facility remains outstanding. The current prepayment will reduce Seritage’s total annual interest expense related to the term loan facility by approximately $3.5 million. The cumulative repayments since December 2021 have reduced Seritage’s total annual interest expense related to the term loan facility by approximately $73.5 million.

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