Centerline amends loan, pushing out term loan reduction date

By Sara Rosenberg

New York, Nov. 3 - Centerline Holding Co. amended its credit facility, extending the date by which the term loan must be reduced to $50 million to Nov. 21 from Oct. 31, according to an 8-K filed with the Securities and Exchange Commission on Monday.

In order to meet the requirement, the company will have to make a term loan payment of about $19 million on or before Nov. 21.

In addition, under the amendment, the company cannot incur additional debt of a specified nature nor permit the placement of specified new liens on their property unless required lender consents have been obtained.

The amendment was completed on Oct. 31.

Centerline is a New York-based investment holding firm.

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