Regency Centers closes on $250 million term loan due 2016

By Marisa Wong

Madison, Wis., Nov. 17 - Regency Centers Corp. closed on a $250 million term loan on Thursday, according to a news release.

The term loan is due Dec. 15, 2016 and will be funded in January.

Interest is equal to Libor plus a margin based on the company's long-term debt rating. At closing, interest was equal to Libor plus 145 basis points.

Wells Fargo Securities LLC was the lead arranger and bookrunner. Wells Fargo Bank, NA was the administrative agent, and PNC Capital Markets LLC was the syndication agent. Regions Bank, SunTrust Bank and US Bank NA were documentation agents. Bank of Tokyo - Mitsubishi UFJ, Ltd. was senior managing agent.

Other lenders were Bank of America, NA, Comerica Bank, JPMorgan Chase Bank, NA, Royal Bank of Canada and Sumitomo Mitsui Banking Corp.

Regency Centers is a Jacksonville, Fla.-based real estate investment trust.

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