ROCKVILLE, MD.--(BUSINESS WIRE)--Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) has replaced and expanded one of its two unsecured credit facilities, increasing its size from $262 million to $400 million.
An accordion feature allows WRIT to increase the facility to $600 million, subject to additional lender commitments. The new facility matures July 1, 2014 with a one-year extension option and bears interest at a rate of LIBOR plus a margin of 122.5 basis points based on WRIT’s current credit rating.
The lead arranger and bookrunner for the facility is Wells Fargo Securities, LLC. Wells Fargo Bank, National Association, is administrative agent and issuing bank.
The Bank of New York Mellon, Citibank, N.A., and Credit Suisse AG, Cayman Islands Branch serve as documentation agents. Additional participants include Royal Bank of Canada, U.S. Bank, N.A., JPMorgan Chase Bank, N.A., Branch Banking & Trust Co., and Raymond James Bank, FSB.
Contacts
Washington Real Estate Investment Trust (WRIT)
William T. Camp
Executive Vice President and Chief Financial Officer
Tel: 301-984-9400
Fax: 301-984-9610
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