Regency CentersCorp. increased the size of its existing senior unsecured term loanfacility by $100 million to $265 million.
In addition, the company extended the facility's maturity dateto Jan. 5, 2022, and slashed the applicable interest rate to LIBOR plus 0.95% ayear.
The additional $100 million was used to trim the company'sline of credit, a component to the funding of its May of a mixed-used developmentin Arlington, Va., according to a news release.
Eleven banks led by Wells Fargo Securities LLC, RegionsCapital Markets, SunTrust Robinson Humphrey Inc. and U.S. Bank NA syndicatedthe facility. They are also acting as the joint lead arrangers. Wells FargoBank NA will be the administrative agent, while Regions Bank, SunTrust Bank andU.S. Bank were the syndication agents. Branch Banking and Trust Co. and PNCBank NA acted as documentation agents.
Other participants in the facility include Bank of AmericaNA, JPMorgan Chase Bank NA, Royal Bank of Canada, Sumitomo Mitsui Banking Corp.and Mizuho Bank.