Rexford Industrial Realty expands revolver, reprices term loan

By Marisa Wong

Los Angeles, July 1 – Rexford Industrial Realty, Inc. said it exercised the accordion option of its existing unsecured revolving credit facility and increased the borrowing capacity by $200 million, to $700 million from $500 million.

All other material terms and conditions of the company’s revolver remain unchanged, according to a press release.

Separately, the company announced the successful repricing of its $150 million unsecured term loan facility maturing May 22, 2025. Pricing was reduced by 60 basis points so that current pricing is Libor plus 95 bps, subject to the company’s credit ratings, with all other material terms and conditions unchanged.

In connection with the increased borrowing capacity on the revolver, the syndicate of lenders was expanded to include Goldman Sachs Bank USA, Mizuho Bank, Ltd. and Bank of Nova Scotia.

Lenders for the term loan include Capital One, NA as administrative agent and lead arranger, and Truist Bank.

The real estate investment trust is based in Los Angeles.

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