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American Assets Trust, unit extend maturity of $100M term loan

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American Assets Trust, unit extend maturity of $100M term loan

American Assets Trust Inc. and its American Assets Trust LP operating partnership amended a credit agreement to extend the maturity of their outstanding $100 million term loan to Jan. 9, 2021, with three one-year extension options.

The operating partnership signed an interest rate swap agreement to fix the interest rate for the term loan at roughly 4.13% from Jan. 9 through Jan. 9, 2021, subject to adjustments.

Bank of America NA acted as administrative agent for the credit deal.