Phillips Edison reduces revolver to $500 million to spare expense

By Wendy Van Sickle,

Columbus, Ohio, Nov. 2 – Phillips Edison Grocery Center Operating Partnership I, LP reduced the revolving portion of its unsecured credit facility to $500 million from $700 million on Wednesday, according to an 8-K filed with the Securities and Exchange Commission.

The reduction will lower the interest cost of the facility while providing capacity in line with the company’s current financing needs, according to the filing.

The Cincinnati company is a real estate investment trust that acquires and manages grocery-anchored neighborhood shopping centers.

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