Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Retail Opportunity Investments Corp. > News item |
Retail Opportunity amends loan, revising maturity, size and pricing
By Sara Rosenberg
New York, Aug. 30 - Retail Opportunity Investments Corp. amended and restated its senior unsecured credit facility, extending maturities by two years, increasing the size by $115 million and lowering pricing by about 40 basis points, according to a news release.
The facility is comprised of a revolver, which was extended to Aug. 29, 2016 and includes a one-year extension option, and a term loan that was extended to Aug. 29, 2017.
Pricing on both tranches is Libor plus 155 bps, based on a leverage grid. If the company receives an investment-grade rating from at least two rating agencies, the spread converts to a ratings-based grid.
KeyBanc Capital Markets Inc. and Bank of America Merrill Lynch acted as the joint lead arrangers and bookrunners on the deal, with KeyBanc the administrative agent.
Retail Opportunity is a White Plains, N.Y.-based owner and operator of shopping centers.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.