Outstanding loan balances on the revolving credit
facility will accrue interest daily at a rate equal to LIBOR plus 1.
This unsecured revolving credit
facility raises the company's borrowing capacity to USD400m from the USD200m as well as provides an accordion feature allowing for an additional USD350m of capacity, subject to customary terms and conditions, resulting in a maximum borrowing capacity of USD750m.
Additional existing terms in RCPC's prior revolving credit
facility were modified under the 2011 Revolving Credit
Facility to conform to the recent amendments to RCPC's 2011 Term Loan Facility, which, as previously disclosed, was refinanced in May 2011.
Additionally, the credit agreement refinancing reduces the company's cost of debt and provides its capital structure with more flexibility, it said and added that the new credit facility lowers the interest rate payable on the tranche A term loans and revolving loans by 100 basis points and increases the revolving credit
commitments to USD500m.
While to date there has been no draw-down of the facility, Leor has the ability to draw $40,000,000 of the $150,000,000 revolving credit
facility based on the current borrowing base.
Under the 2011 revolving credit
facility, the interest rate spread over the LIBOR base rate was reduced from a 3.
Unused fees on the revolving credit
facilities are 0.
Borrower and Canadian Borrower revolving credit
facilities have an interest rate of Libor plus 300 bps, subject to reduction as Dollar Financial Corp.
Fitch assigned a Recovery Rating (RR) of 'RR1' to TOA's amended secured revolving credit
facility, indicating outstanding (90%-100%) recovery prospects for holders of this debt issue.
On October 18, 2006, the company entered into an amendment to its Revolving Credit
Agreement and its Term Loan Agreement extending the time period for delivering its Form 10Q for the quarter ended August 31, 2006 to December 24, 2006.
5 million loan syndication, consisting of an amended floor plan credit facility and a revolving credit
NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast, today announced that its $350 million, three-year unsecured revolving credit
facility, which was initially obtained from Bank of America, N.