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Slate Office REIT extends credit facility maturity date

Slate Office REIT renewed its revolving operating credit facility and extended the maturity date to Feb. 1, 2021.

The office-focused real estate investment trust said in its earnings release that it entered into a C$100 million interest rate swap, starting June 29, for a five-year term, at a fixed rate of 2.55%. The swap increases the REIT's fixed-rate debt by 12.6%, to 44.3%, as at Dec. 31, 2017, and trims its exposure to rising interest rates.