CommonWealth REIT Closes $400 Million Unsecured Term Loan
16 Dezembro 2010 - 7:10PM
Business Wire
CommonWealth REIT (NYSE: CWH) today announced the closing of a
new five year $400 million unsecured term loan. The loan matures on
December 15, 2015, and is prepayable, without penalty, beginning in
December 2012. Terms of the new loan include interest at LIBOR plus
200 basis points, subject to adjustments based on changes to CWH’s
credit ratings. CWH expects to use the net proceeds of the term
loan to repay amounts outstanding under its $750 million revolving
credit facility and fund general business activities, including
possible future acquisitions.
Wells Fargo Securities, LLC served as Sole Lead Arranger for the
term loan, and banks participating in the new loan are as
follows:
Name of
Institution
Title
Wells Fargo Bank, N.A. Administrative Agent BBVA Compass
Syndication Agent RBC Capital Markets Syndication Agent Regions
Bank Syndication Agent PNC Bank Managing Agent Sovereign Bank
Managing Agent Sumitomo Mitsui Banking Corporation Managing Agent
Union Bank, N.A. Managing Agent US Bank Managing Agent Bank of Nova
Scotia Participant BB&T Capital Markets Participant Capital
One, N.A. Participant Comerica Bank Participant First Hawaiian Bank
Participant Malayan Banking Participant
CommonWealth REIT is a nationwide office and industrial real
estate investment trust, or REIT. As of September 30, 2010, CWH
owned 519 properties with 66.5 million square feet located in over
60 markets in 33 states and Washington, DC. CWH is headquartered in
Newton, Massachusetts.
WARNING CONCERNING FORWARD LOOKING
STATEMENTS
CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD
LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 AND FEDERAL SECURITIES LAWS. THESE
INCLUDE STATEMENTS REGARDING THE INTEREST PAID UNDER THE TERM LOAN
AND ITS INTENDED APPLICATION OF NET PROCEEDS. ACTUAL RESULTS MAY
DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY THESE
FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS AND SOME
OF THESE FACTORS ARE BEYOND CWH'S CONTROL. FORWARD LOOKING
STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND
MAY NOT OCCUR. YOU SHOULD NOT PLACE UNDUE RELIANCE UPON CWH’S
FORWARD LOOKING STATEMENTS. EXCEPT AS MAY BE REQUIRED BY LAW, CWH
DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS
AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the New York
Stock Exchange. No shareholder, Trustee or officer is personally
liable for any act or obligation of the Trust.
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