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Government Properties Income Trust Closes $350 Million Senior Unsecured Term Loan

Stocks in this article: GOV

Government Properties Income Trust (NYSE: GOV) today announced the closing of a new five year $350 million unsecured term loan. The loan matures on January 11, 2017, and is prepayable without penalty at any time. Terms of the new loan include interest at LIBOR plus 175 basis points, subject to adjustments based on changes to GOV’s credit ratings. GOV expects to use the net proceeds of the term loan to repay amounts outstanding under its $550 million revolving credit facility and fund general business activities, including possible future acquisitions.

Name of Institution

         

Title

Wells Fargo Bank, N.A. Lead Arranger / Administrative Agent
Citibank, N.A. Lead Arranger / Syndication Agent
Regions Bank Documentation Agent
Royal Bank of Canada Documentation Agent
U.S. Bank National Association Documentation Agent
BBVA Compass Bank Documentation Agent
RBS Citizens, N.A. Documentation Agent
Capital One, N.A. Lender
PNC Bank, National Association Lender
TD Bank, N.A. Lender
Union Bank, N.A. Lender
Comerica Bank Lender
First Commercial Bank Lender
First Hawaiian Bank Lender
Chang Hwa Commercial Bank, Ltd. Lender
E. Sun Commercial Bank, Ltd. Lender
Mega International Commercial Bank Lender
 

Government Properties Income Trust is a real estate investment trust, or REIT, which owns properties leased primarily to the U.S. Government and state governments located throughout the United States. GOV is headquartered in Newton, Massachusetts.

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