Retail Opportunity Investments Corp. amended and extended its $600 million unsecured credit facility and $300 million unsecured term loan.

The credit facility's maturity date was extended to February 2024, while the borrowing rate was lowered to the London interbank offered rate plus 0.9%. The shopping center real estate investment trust maintained existing provisions to extend the facility's maturity date for two consecutive six-month periods and an accordion feature that enables it to boost the facility amount by an additional $600 million.

The term loan's maturity date was extended to January 2025, while the borrowing rate was reduced to Libor plus 1%. The company maintained an accordion feature provision that allows it to lift the facility amount by an additional $200 million.

The credit facility's banking group included KeyBanc Capital Markets Inc., PNC Capital Markets LLC and U.S. Bank NA as joint lead arrangers. KeyBank NA was administrative agent, swing line lender and letter of credit issuer. Other participants included Bank of America NA, BMO Harris Bank NA, Capital One NA, Citibank NA, JPMorgan Chase Bank NA, Regions Bank and Wells Fargo Bank NA.

The term loan's banking group included KeyBanc Capital Markets, BMO Capital Markets and Regions Capital Markets as joint lead arrangers. KeyBank was administrative agent, while Capital One was documentation agent. Other participants included Bank of America, Citibank, JPMorgan Chase Bank, PNC Bank NA, U.S. Bank and Wells Fargo Bank.