Terreno Realty Corporation Adds New $50.0 Million Term Loan and Amends $100.0 Million Revolving Credit Facility
Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, added a new five-year $50.0 million term loan and amended its existing $100.0 million revolving credit agreement to extend the maturity date and decrease the annual interest rate.
The five-year $50.0 million term loan bears interest at an annual rate of LIBOR plus 1.65% to 2.65% depending on leverage and Terreno Realty Corporation has up to six months to borrow the full $50.0 million. In addition, Terreno Realty Corporation amended its revolving credit facility, extending the maturity by approximately one year to January 17, 2016 and decreasing the annual rate of interest by 85 basis points to LIBOR plus 1.65% to 2.65% depending on leverage.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.