Greystone Housing Impact Investors LP secured an $80 million revolving line of credit to enhance capital management and investment capacity.
Quiver AI Summary
Greystone Housing Impact Investors LP announced that, as of June 30, 2025, it has secured an $80 million revolving line of credit (Acquisition LOC) through a Credit Agreement with five financial institutions, replacing a previous $50 million agreement. This credit line, managed by Bankers Trust Company, will provide temporary financing for the Partnership’s investment purchases, with advances expected to be repaid through traditional debt financing options. The Acquisition LOC has a maturity date of June 2027, extendable to June 2029, and carries interest at Term SOFR plus 2.50%. CEO Kenneth C. Rogozinski emphasized that the increased credit capacity reflects strong relationships with lenders and will aid in managing capital and liquidity. Greystone Housing Impact Investors focuses on acquiring mortgage revenue bonds to finance affordable housing and aims to grow through leveraging its investment strategy.
Potential Positives
- The Partnership secured a new $80 million revolving line of credit, increasing its previous credit capacity by $30 million, demonstrating strong relationships with banks.
- The new credit agreement enhances the Partnership's financial flexibility and capacity for investment purchases, supporting its growth strategy in acquiring mortgage revenue bonds.
- The line of credit has a favorable interest rate structure, potentially allowing the Partnership to manage borrowing costs effectively.
- The opportunity to extend the maturity of the credit facility to June 2029 offers longer-term financial stability for the Partnership.
Potential Negatives
- The increase in the Acquisition LOC from $50 million to $80 million may indicate a reliance on debt financing, which could raise concerns about the Partnership's liquidity management and ability to repay such debt.
- The mention of risks associated with renewals or refinancing of financing arrangements suggests potential vulnerabilities in financial stability, which could deter investor confidence.
- The overall economic and credit market conditions referenced imply that external factors beyond the company's control could adversely impact its business strategy and financial performance.
FAQ
What is the Acquisition LOC announced by Greystone?
The Acquisition LOC is a secured revolving line of credit totaling $80 million for investment purchases.
Who are the financial institutions involved in the Credit Agreement?
Five financial institutions are participating in the Credit Agreement, with Bankers Trust Company as the administrative agent.
How does the Acquisition LOC benefit Greystone Housing Impact Investors?
The Acquisition LOC enhances Greystone's capital and liquidity management by providing increased financing capacity for investments.
What are the interest terms for the Acquisition LOC?
Outstanding balances will incur interest at Term SOFR plus 2.50%, with a minimum interest floor of 2.60%.
When does the Acquisition LOC mature?
The Acquisition LOC has a maturity date of June 2027, extendable to June 2029 under certain conditions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GHI Hedge Fund Activity
We have seen 23 institutional investors add shares of $GHI stock to their portfolio, and 21 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY removed 90,220 shares (-25.1%) from their portfolio in Q1 2025, for an estimated $1,112,412
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- JONES FINANCIAL COMPANIES LLLP added 32,406 shares (+14338.9%) to their portfolio in Q1 2025, for an estimated $399,565
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- RAYMOND JAMES FINANCIAL INC added 24,707 shares (+7.8%) to their portfolio in Q1 2025, for an estimated $304,637
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
OMAHA, Neb., July 07, 2025 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that on June 30, 2025, it entered into a Credit Agreement (the “Credit Agreement”) with five financial institutions for a secured revolving line of credit (the “Acquisition LOC”). The maximum aggregate commitment of the Acquisition LOC is $80 million. Bankers Trust Company is serving as the administrative agent. The Credit Agreement replaces the Partnership’s prior credit agreement with Bankers Trust Company dated August 2021, as amended, that had a maximum commitment of $50 million.
The Acquisition LOC provides temporary financing for the Partnership’s investment purchases. Advances under the Acquisition LOC are expected to be repaid from the Partnership’s traditional debt financing sources such as Tender Option Bond financing or similar securitization transactions. Outstanding balances on the Acquisition LOC bear interest at Term SOFR plus 2.50%, with an overall floor of 2.60%. The Acquisition LOC has a stated maturity of June 2027, which the Partnership may extend to June 2029 based on customary extension conditions and fees.
“The $30 million increase in the size of our Acquisition LOC demonstrates our strong relationships with bank lenders and provides the Partnership with additional capacity for effectively managing our capital and liquidity positions,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership.
About Greystone Housing Impact Investors LP
Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.
Safe Harbor Statement
Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
MEDIA CONTACT:
Karen Marotta
Greystone
212-896-9149
[email protected]
INVESTOR CONTACT:
Andy Grier
Senior Vice President
402-952-1235
