Kimco Realty concludes $2.25 billion revolver at Libor plus 87.5 bps

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – Kimco Realty Corp. said it closed on a new $2.25 billion unsecured revolving credit facility due March 17, 2021.

Interest on the debt is Libor plus 87.5 basis points, according to a news release.

Kimco has two six-month options to extend the loan for a possible final maturity of March 17, 2022.

The revolver includes a $500 million sub-limit for borrowings drawn in alternative currencies including Canadian dollars, British pounds sterling, Japanese yen or euros.

JPMorgan Chase Bank, NA, Wells Fargo Securities, LLC, PNC Capital Markets LLC and RBC Capital Markets are joint bookrunners. JPMorgan, Wells Fargo, PNC, RBC, Bank of Nova Scotia, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Mizuho Bank, Ltd., Regions Capital Markets, U.S. Bank NA, Barclays Bank plc and Deutsche Bank Securities Inc. are joint lead arrangers. JPMorgan Chase Bank, NA is administrative agent.

Proceeds will be used to pursue the company’s 2020 Vision strategy.

Kimco is a New Hyde Park, N.Y., real estate investment trust that owns and operates neighborhood and community shopping centers.

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