EdR completes $375 million amended and restated credit facility

By Sara Rosenberg

New York, Jan. 15 - EdR closed on a $375 million amended and restated four-year revolving credit facility, according to a news release.

KeyBanc Capital Markets, PNC Capital Markets LLC, RBC Capital Markets and Regions Capital Markets acted as the co-lead arrangers and bookrunners on the deal.

Pricing on the revolver can range from Libor plus 145 basis points to 205 bps based on leverage.

There is a $125 million accordion feature and a one-year extension option.

Proceeds were used to replace an existing $175 million revolver.

Edr is a Memphis, Tenn.-based developer, owner and manager of collegiate housing.

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