JACKSON, MISSISSIPPI, March 25, 2020 — EastGroup Properties, Inc. (NYSE: EGP) (the “Company” or “EastGroup”) announced today its recent financing activities. Today, EastGroup closed a $100 million senior unsecured term loan with a seven-year term and interest-only payments. It bears interest at the annual rate of LIBOR plus an applicable margin based on the Company’s senior unsecured long-term debt rating. The Company also entered into an interest rate swap agreement to convert the loan’s LIBOR component to a fixed interest rate, providing a total effective fixed interest rate of 2.39%.
