Federal Realty Investment Trust has obtained a new $400 million unsecured revolving loan, GlobeSt reports. The trust is planning to use the proceeds from the offering to repay outstanding obligations under its previous $300 million revolving loan and for general corporate purposes.
The new revolving credit facility is due to mature in July 2015, with an additional option to extend for another year. Wells Fargo Securities and PNC Capital Markets acted as lead arrangers for the facility, while banks, including Bank of America, Citigroup Global Markets and Deutsche Bank Trust Company Americas are all lenders for the loan.
Click here for the release from PR Newswire.