SITE Centers Refinances $950 Million Unsecured Revolving Credit Facility and Upsizes Unsecured Term Loan Facility

SITE Centers Corp. (NYSE:SITC), an owner of open-air shopping centers in suburban, high household income communities, announced today that it has refinanced its unsecured revolving credit facility and extended its maturity. The company also refinanced its unsecured term loan and upsized the agreement to $200 million from $100 million, with the additional proceeds available via a delayed draw feature, and extended its maturity. As part of the refinancing, the underlying benchmark will transition to SOFR from LIBOR. The recast facilities also feature a sustainability-linked pricing component whereby the applicable interest rate margin can be reduced if the Company meets certain sustainability performance targets.

The amended $950 million unsecured revolving credit facility has an initial maturity of June 6, 2026 with two six-month extension options. Based on SITE Centers’ current credit ratings, pricing on the refinanced revolving credit facility was set at SOFR plus 85 basis points and a 10 basis point credit spread adjustment.

SITE Centers also amended and upsized its unsecured term loan increasing potential borrowings to $200 million from $100 million. The maturity date was extended to June 6, 2027. Pricing of the unsecured term loan was set at SOFR plus 95 basis points and a 10 basis point credit spread adjustment based on SITE Centers’ current credit ratings with $100 million available via a delayed draw feature through December 6, 2022. At closing, the Company has not drawn any amounts under the delayed draw feature.

JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC served as Joint Bookrunners, JPMorgan Chase Bank, N.A. served as Administrative Agent, and JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, Citizens Bank, N.A., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, RBC Capital Markets, and U.S. Bank National Association served as Joint Lead Arrangers on the amended $950 million revolving credit facility.

Wells Fargo Securities, LLC and JPMorgan Chase Bank, N.A. served as Joint Bookrunners, Wells Fargo Bank, N.A. served as Administrative Agent, and Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Citizens Bank, N.A., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, RBC Capital Markets, and U.S. Bank National Association served as Joint Lead Arrangers on the upsized $200 million unsecured term loan.

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

Contacts

Conor Fennerty, EVP and

Chief Financial Officer

216-755-5500

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