ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.Retail Opportunity Investments Corp. (NASDAQ: ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast. As of June 30, 2017, ROIC owned 86 shopping centers encompassing approximately 9.9 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody's Investor Services and Standard & Poor's. Additional information is available at: www.roireit.net . When used herein, the words "believes," "anticipates," "projects," "should," "estimates," "expects," " guidance " and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute " forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements. Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net . Contact:Ashley Rubino, Investor Relations858-255-4913 firstname.lastname@example.org
SAN DIEGO, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that it has amended and restated its unsecured credit facility, modifying certain key terms, including: 1) increasing the borrowing capacity from $500 million to $600 million; 2) increasing the accordion feature, enabling the company to expand the borrowing capacity to $1.2 billion, subject to commitments and other customary conditions; and 3) extending the maturity date to September 2021. Additionally, ROIC amended and restated its $300 million unsecured term loan, maintaining the accordion feature, which enables the company to increase the term loan to $500 million, subject to commitments and other customary condition, and extending the maturity date to September 2022. Michael B. Haines, Chief Financial Officer of Retail Opportunity Investments Corp. stated, "By extending out the maturity dates on our credit line and term loan, we now have no meaningful debt scheduled to mature during the next four years. Looking out further, our debt maturity schedule is well-laddered. Accordingly, we continue to maintain our long-standing, strong and flexible financial position." The unsecured credit facility's banking group included KeyBanc Capital Markets, Inc., PNC Capital Markets LLC and U.S. Bank, National Association as Joint Lead Arrangers, with KeyBank National Association as Administrative Agent, Swing Line Lender and L/C Issuer. Other participants included Bank of America, N.A., BMO Harris Bank, N.A., Capital One, National Association, Citibank, N.A., JPMorgan Chase Bank, N.A., Regions Bank, Royal Bank of Canada and Wells Fargo Bank, National Association. The unsecured term loan's banking group included KeyBanc Capital Markets, Inc., BMO Capital Markets and Regions Capital Markets as Joint Lead Arrangers, with KeyBank National Association as Administrative Agent and Capital One, National Association as Documentation Agent. Other participants included Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, Royal Bank of Canada, U.S. Bank, National Association and Wells Fargo Bank, National Association.