Millrose Properties, Inc. entered into an Amended and Restated Credit Agreement on March 25, 2026, establishing a $1.835 billion unsecured credit facility to replace its prior secured agreement, providing increased liquidity for general business purposes.
Key takeaways
The company entered into an Amended and Restated Credit Agreement on March 25, 2026.
The credit facility is unsecured and has an aggregate maximum commitment amount of $2.5 billion.
The facility includes a $1.335 billion revolving credit commitment and a $500 million delayed draw term loan facility.
Borrowings mature on March 25, 2030, and bear interest at Adjusted Term SOFR plus a margin ranging from 2.00% to 2.50%.
Net proceeds will be used for general business purposes, including repaying loans under the prior credit agreement.
The company's obligations are guaranteed by subsidiaries Millrose SPE LLC and MPSAB, LLC.