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Kimco Realty Gets New $220M Unsecured Term Loan

Stock quotes in this article: BNS , KIM  

NEW HYDE PARK, N.Y. (AP) — Kimco Realty Corp., a real estate investment trust, said Monday it has closed on a new $220 million two-year unsecured term loan, up from its initial size of $200 million.

The loan bears interest annually at the London Interbank Offered Rate (LIBOR) plus 465 basis points. It will mature in April 2011. One basis point is equal to one one-hundredth of a percent.

The company recently repaid $130 million of its unsecured medium term notes, which held an interest rate of 6.9 percent, through use of its U.S. unsecured revolving credit facility. ...

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