Entertainment Properties gets $200 million amended, restated facility

By Sara Rosenberg

New York, Jan. 31 - Entertainment Properties Trust amended and restated its credit facility, increasing the size to $200 million, extending the term to 2009, improving pricing and changing it to unsecured from secured, according to a company news release.

KeyBank was the lead arranger and administrative agent for the deal, with Royal Bank of Canada acting as syndication agent and JPMorgan Chase Bank as documentation agent. Six other banks are also participants in the facility - Emigrant Bank, MidFirst Bank, United Missouri Bank, Sovereign Bank, Bear Stearns & Co Inc. and Bank Midwest.

Pricing under the facility now ranges from Libor plus 130 to 175 basis points, down from the previous range of Libor plus 175 to 250 bps.

The facility contains a one-year extension option.

Entertainment Properties Trust is a Kansas City, Mo.-based real estate investment trust focused on the acquisition of real estate assets leased to entertainment operators.

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