Kite Realty Group amends loan, increasing borrowing base

By Sara Rosenberg

New York, July 7 - Kite Realty Group LP amended its $150 million secured revolving credit facility, increasing its borrowing base to $128.5 million, of which $33.3 million was available for additional borrowings, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Borrowings under the revolver carry an interest rate of Libor plus 135 to 160 basis points, depending on the company's leverage ratio.

The amendment was completed June 30.

Wachovia is the agent on the deal.

Kite Realty is an Indianapolis-based full-service, vertically integrated real estate company.

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