DDR Ddr Corp.

On September 13, 2017, DDR Corp. (the “Company”) entered into a Second Amended and Restated Credit Agreement (the “Revolving Credit Agreement”), among the Company, DDR PR Ventures LLC, S.E. (“DDR PR”), the lenders named therein and JPMorgan Chase Bank, N.A., as administrative agent, which amended and restated the Company’s existing unsecured revolving credit agreement. The Revolving Credit Agreement modifies the terms of the existing agreement by, among other things, (i) increasing the borrowing capacity, (ii) modifying the financial covenants and certain other provisions contained therein, (iii) extending the maturity date to September 1, 2021 and (iv) reducing the interest rate in connection with improved credit ratings. The Revolving Credit Agreement provides for borrowings of up to $950,000,000 and includes an accordion feature for expansion of availability up to $1,450,000,000 upon the Company’s request, provided that new or existing lenders agree to the existing terms of the facility and to increase their commitment level. The Company’s borrowings under the Revolving Credit Agreement bear interest at variable rates at the Company’s election, based on either LIBOR, plus a specified spread, or the “Prime Rate,” as defined in therein. Upon the occurrence of certain customary events of default, the Company’s obligations under the Revolving Credit Agreement may be accelerated and the lending commitments thereunder terminated. A copy of the Revolving Credit Agreement is attached as Exhibit 4.1 and is incorporated by reference herein. The foregoing description of the Revolving Credit Agreement is qualified in its entirety by reference to Exhibit 4.1.

Certain of the banks and financial institutions that are parties to the Revolving Credit Agreement and their respective affiliates have in the past provided, are currently providing and in the future may continue to provide investment banking, commercial banking and other financial services, to the Company in the ordinary course of business for which they have received and will receive customary compensation. In the ordinary course of business, such banks and financial institutions and their respective affiliates may participate in loans and actively trade the debt and equity securities of the Company for their own account or for the accounts of customers and, accordingly, such banks and financial institutions and their respective affiliates may at any time hold long or short positions in such securities.