JACKSONVILLE, FL -- Regency Centers Corporation (“Company”) announced that it has closed on a $250 million unsecured term loan (“Term Loan”). The Term Loan has a five-year term and matures on December 15, 2016, but can be paid off at par any time prior to maturity. The Term Loan will be funded in January 2012.
The interest rate on the Term Loan is equal to LIBOR plus a margin that is determined in accordance with the Company’s long-term unsecured debt ratings. At the time of the closing, the effective interest rate was LIBOR plus 145 basis points.
Wells Fargo Securities, LLC was Sole Lead Arranger and Bookrunner. Wells Fargo Bank, National Association, was Administrative Agent. PNC Capital Markets LLC was Syndication Agent. Regions Bank,
SunTrust Bank and US Bank National Association were Documentation Agents and Bank of Tokyo –
Mitsubishi UFJ, Ltd. was Senior Managing Agent.
Other lenders for the new Term Loan were Bank of America, N.A., Comerica Bank, JPMorgan Chase Bank, NA., Royal Bank of Canada and Sumitomo Mitsui Banking Corporation.
CONTACT: PATRICK JOHNSON, 904) 598-7422
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