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|
|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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