| 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 extends, upsizes revolver, extends term loan
By Wendy Van Sickle
Columbus, Ohio, Sept. 13 – Retail Opportunity Investments Corp. amended and restated its credit agreement with KeyBank NA as administrative agent on Sept. 8, increasing commitments to $600 million and extending the maturity date to September 2021, according to an 8-K filing with the Securities and Exchange Commission.
The restated agreement also allows for up to $600 million of additional borrowings and provides two six-month extension options.
The revolver is led by KeyBanc Capital Markets, Inc., PNC Capital Markets LLC and U.S. Bank NA as joint lead arrangers, with KeyBanc Capital Markets as book manager.
PNC Bank, NA and U.S. Bank are the co-syndication agents.
Borrowings bear interest at Libor plus 82.5 basis points to 155 bps, depending on the company’s credit ratings.
Also on Sept. 8, the company extended its term loan agreement with KeyBank as administrative agent to September 2022, while maintaining commitments at $300 million with $200 million of possible additional commitments.
The term loan is led by KeyBanc Capital Markets, BMO Capital Markets and Regions Capital Markets as joint lead arrangers, with KeyBanc Capital Markets as book manager. BMO and Regions Bank are the co-syndication agents. Capital One, NA is documentation agent.
Interest on the term loan is Libor plus 90 bps to 175 bps, depending on Retail Opportunity’s credit ratings.
Retail Opportunity is a San Diego-based self-managed real estate investment trust focusing on the acquisition, ownership and management of necessity-based community and neighborhood shopping centers that are anchored by national or regional supermarkets and drugstores.
© 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.