FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Key Bank Agents Terreno Realty’s $350MM Credit Facility

Date: Aug 02, 2016 @ 07:16 AM
Filed Under: Real Estate

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced the closing of a $350 million amended and restated senior unsecured credit facility (the “Facility”) to replace its existing $300 million senior unsecured credit facility. The previously outstanding $50 million term loan that was to mature in May 2021 was repaid upon closing. Additional highlights are as follows:

  • $200 Million Revolving Credit Facility. The unsecured revolving credit facility was increased from $100 million to $200 million and the maturity was extended to August 2020. The interest rate on the unsecured revolving credit facility decreased to LIBOR plus 1.35%-1.90% (previously 1.50% to 2.05%), depending on leverage.
  • $50 Million Term Loan. The maturity date of the $50 million unsecured term loan was extended by approximately two years to August 2021. The interest rate on the $50 million unsecured term loan decreased to LIBOR plus 1.30%-1.85% (previously 1.50% to 2.05%), depending on leverage.
  • $100 Million Term Loan. The maturity date of the $100 million unsecured term loan was extended by approximately two years to January 2022. The interest rate on the $100 million unsecured term loan decreased to LIBOR plus 1.30%-1.85% (previously 1.50%-2.05%), depending on leverage.

KeyBanc Capital Markets, MUFG Union Bank, N.A., PNC Capital Markets LLC and Regions Capital Markets served as joint lead arrangers and KeyBank, N.A. is the administrative agent. MUFG Union Bank, N.A., PNC Bank, N.A. and Regions Banks served as co-syndication agents. Other key participants were Goldman Sachs Bank USA and U.S. Bank, N.A.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.