Rexford prepays $100 million term loan due in 2022

By Wendy Van Sickle

Columbus, Ohio, Nov. 18 – Rexford Industrial Realty, Inc. through its operating partnership, Rexford Industrial Realty, LP, repaid in full the $100 million unsecured term loan facility outstanding under its credit agreement with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company did not incur any prepayment penalties for repaying the term loan facility in advance of the maturity date of Feb. 14, 2022.

In addition, the company terminated one of its interest rate swaps with a notional amount of $100 million by paying a swap termination fee of approximately $1.4 million. The pay-fixed, receive-floating interest rate swap was scheduled to mature in August 2021 and was used to hedge interest rate risk related to the term loan facility.

Rexford is a Los Angeles-based industrial real estate firm.

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