HRPT Properties Trust has entered into a new $250 million secured credit facility with a group of commercial banks according to a CPN article. The facility is non-recourse to HRP and is secured by certain properties located throughout the United States.
The maturity date of this new facility is April 24, 2012, and the borrower has the option to extend the facility, subject to certain conditions, for one year to April 24, 2013. Interest under the facility is generally set at LIBOR, subject to a floor, plus a spread which varies depending on the amount of debt leverage at the borrower subsidiary. "As of December 31, 2008, there is 99 percent occupancy in the 29 government-tenanted buildings that secured this facility," Timothy Bonang, HRPT director of investor relations, told CPN. The banks participating in the facility include joint lead arrangers Bank of America Securities L.L.C. and Wells Fargo Bank N.A.; Royal Bank of Canada; US Bank National Association; Citicorp North America Inc.; Morgan Stanley Bank N.A.; Regions Bank; and UBS Loan Finance L.L.C. HRPT plans to use the net proceeds from the new facility to pay down outstanding debt under its revolving credit facility.
For more news and information, visit Blumberg Capital Partners.
Have no a lot of cash to buy a car? Worry no more, just because it is real to receive the home loans to resolve such problems. Thus get a short term loan to buy everything you need.
Posted by: Bird35Miranda | March 06, 2010 at 03:29 AM