Seritage Growth Properties Makes $20 Million Prepayment on Berkshire Hathaway Term Loan, Reducing Outstanding Debt to $50 Million
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Seritage Growth Properties has made a $20 million prepayment on its $1.6 billion term loan from Berkshire Hathaway, reducing the outstanding debt to $50 million. This prepayment will lower the company's annual interest expense by approximately $1.4 million. Since December 2021, Seritage has repaid a total of $1.55 billion, cutting annual interest expenses by about $110 million.
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