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Wheeler REIT amends credit agreement with KeyBank


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Wheeler REIT amends credit agreement with KeyBank

Wheeler Real Estate Investment Trust Inc. entered into an amended credit agreement with KeyBank NA that increases the borrowing capability under the facility to $52.5 million from $50 million.

The amended agreement also increases the credit facility's accordion feature by $50 million to $150 million, according to a release.

The agreement also extends the requirement to reduce the outstanding debt to $52.5 million or below from about $68 million by July 1, 2018.

Wheeler's revolving credit facility with KeyBank will mature Dec. 21, 2019, with a one-year extension option. The interest rate on Wheeler's credit facility will remain at the London Interbank Offered Rate plus 250 basis points.