Select Income REIT Closes $350 Million Unsecured Term Loan

Select Income REIT (NYSE: SIR) today announced the closing of a new five year $350 million unsecured term loan. The loan matures on July 11, 2017, and is prepayable, without penalty, at any time. Terms of the loan include interest at LIBOR plus 155 basis points, subject to adjustments based on changes to SIR’s leverage. SIR expects to use the net proceeds of the term loan to repay amounts outstanding under its $500 million revolving credit facility and to fund general business activities, including possible future acquisitions.

Wells Fargo Securities, LLC, Citigroup Global Markets, Inc. and RBC Capital Markets, LLC served as Joint Lead Arrangers for the term loan, and banks participating in the new loan are as follows:

Name of Institution
                   

Title
Wells Fargo Bank, National Association Administrative Agent
Citibank, N.A. Syndication Agent
Royal Bank of Canada Syndication Agent
Mizuho Corporate Bank, Ltd. Documentation Agent
RBS Citizens, N.A. Documentation Agent
Bank of America, N.A. Participant
Branch Banking and Trust Company Participant
Morgan Stanley Bank, N.A. Participant
UBS Loan Finance LLC Participant
PNC Bank, National Association Participant
US Bank National Association Participant
Chang Hwa Commercial Bank Ltd. Participant

Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. As of March 31, 2012, SIR owned 251 properties with a total of approximately 21.4 million square feet located in 14 states, including 228 properties with approximately 17.8 million square feet which are primarily leasable industrial and commercial land located in Oahu, Hawaii. SIR is headquartered in Newton, MA.

WARNING CONCERNING FORWARD LOOKING STATEMENTS

CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE INCLUDE STATEMENTS SIR’S EXPECTED USE OF NET PROCEEDS OF THE TERM LOAN. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS AND SOME OF THESE FACTORS ARE BEYOND SIR'S CONTROL. FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. YOU SHOULD NOT PLACE UNDUE RELIANCE UPON SIR’S FORWARD LOOKING STATEMENTS. EXCEPT AS MAY BE REQUIRED BY LAW, SIR DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

Copyright Business Wire 2010

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