- A new unsecured revolving credit facility with $850 million in capacity and a maturity date of January 15, 2018. The facility will carry an interest rate of LIBOR plus a spread that is based on the Company’s leverage ratio and credit rating, should the Company receive a credit rating. Initially, the spread over LIBOR is anticipated to be 1.70%. The new credit facility replaces the Company’s prior revolving credit facility that had $700 million in capacity and was scheduled to mature in September 2016.
- The replacement of its $200 million unsecured term loan, scheduled to mature in March 2018, with a new $200 million term loan with the same maturity date. An existing interest rate swap agreement will remain in place to effectively fix the all-in interest rate on the new term loan at 2.6385% for the duration of its term. The loan’s interest rate is subject to adjustment based on the Company’s leverage ratios and credit ratings, should the Company receive a credit rating.
- A new $200 million unsecured term loan, scheduled to mature in January 2019. The Company entered into an interest rate swap agreement to effectively fix the all-in interest rate on this term loan at 3.274% for the duration of its term. The loan’s interest rate is subject to adjustment based on the Company’s leverage ratios and credit rating, should the Company receive a credit rating.
Chambers Street Obtains $1.37 Billion Of Unsecured Financing Capacity
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