Washington Real Estate Investment Trust Amends and Extends Credit Facility

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Washington Real Estate Investment Trust (WRIT)
WRE
has amended one of its two unsecured credit facilities, increasing its size from $75 million to $100 million. An accordion feature allows WRIT to increase the facility to $200 million, subject to additional lender commitment. The new facility matures June 25, 2015, with a one-year extension option, bears interest at a rate of LIBOR plus a margin of 107.5 basis points based on WRIT's current credit rating, and eliminates the requirement for guarantees from WRIT's subsidiaries under certain circumstances.
Posted In: NewsFinancing
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