Pennsylvania REIT (NYSE:PEI) says conditions were satisfied for it to extend the suspension period of certain debt covenants to Sept. 30, 2020 from Aug. 31, 2020.

PEI continues to work with lenders to negotiate and finalize definitive documentation for further amendments to its loan agreements in an effort to provide further liquidity and ensure continued compliance with its obligations after the extended suspension period ends.

The company also said it terminated its previous agreement for the sale-leaseback of five properties after electing not to extend the due diligence period under the agreement.

READ FULL ARTICLE HERE