Kimco Realty Corp. replaced its existing $1.75 billion unsecured credit facility with a new $2.25 billion facility, with commitments from 19 lenders.

The new facility is due March 17, 2021, with two six-month extension options, and carries an annual interest rate of LIBOR plus 87.5 basis points. It features a $500 million sublimit that allows Kimco to borrow in alternative currencies, including Canadian dollars, British pounds sterling, Japanese yen or euros.

JPMorgan Chase Bank NA, Wells Fargo Securities LLC, PNC Capital Markets LLC and RBC Capital Markets were the joint book runners and joint lead arrangers. JPMorgan Chase was also the administrative agent.

The other joint lead arrangers were The Bank of Nova Scotia, Merrill Lynch Pierce Fenner & Smith Inc., Citigroup Global Markets Inc., Mizuho Bank Ltd., Regions Capital Markets, U.S. Bank NA, Barclays Bank PLC and Deutsche Bank Securities Inc.