American Assets Trust amended and restated its existing credit agreement to, among other things, increase the revolving line of credit from $350 million to $400 million; extend the maturity date of the restated $400 million revolving line of credit to Jan. 5, 2026 (with two six-month extension options); extend the maturity date of the $100 million term loan included as part of the credit agreement to Jan. 5, 2027 (with no further extension options); decrease the applicable ratings-based pricing spreads; and transition borrowings to SOFR and away from LIBOR. The revolving line of credit and $100 million term loan are both unsecured.

According to an 8K filed with the SEC, Bank of America is the administrative agent for the credit agreement.