Federal RealtyInvestment Trust amended its credit agreement with a group of lenders to boost theunsecured revolving credit facility to $800.0 million from $600.0 million, amongother changes.
The amended agreement, signed April 20, also extends thematurity date to April 20, 2020, with two six-month extension options.
The facility carries an interest rate equal to LIBOR plus82.5 basis points, with the spread over LIBOR to be adjusted based on thecompany's credit rating. It contains an accordion feature that allows thecompany to expand the borrowing capacity to as much as $1.5 billion, accordingto a filing.
Wells Fargo Bank NA served as the administrative agent underthe facility, with PNC Bank NA acting as syndication agent. Wells FargoSecurities LLC and PNC Capital Markets LLC both served as lead arrangers andbook managers. Regions Capital Markets, a division of Regions Bank; SunTrustRobinson Humphrey Inc. and U.S. Bank NA also served as lead arrangers.