OAK BROOK, Ill., Dec. 21, 2015 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI) (the "Company") today announced it has obtained binding commitments for a $1.2 billion amended and restated unsecured credit facility. The funding is expected to close in January 2016, subject to the satisfaction of certain conditions, all of which are within sole control of the Company. Upon funding, the Company's existing unsecured credit facility will be amended and restated to:
$750 Million Unsecured Revolver
$200 Million Unsecured Term Loan
$250 Million Unsecured Term Loan
"This transaction further establishes RPAI's ability to access competitively priced capital in the unsecured debt markets," stated Heath Fear, executive vice president and chief financial officer. "We appreciate the continued commitment from our lending partners."
Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc., U.S. Bank National Association, PNC Capital Markets LLC and Regions Capital Markets served as co-lead arrangers, with KeyBank, NA to serve as administrative agent and Wells Fargo Bank, NA to serve as syndication agent. U.S. Bank National Association, PNC Capital Markets LLC, Regions Capital Markets, Bank of America, N.A., Citibank, N.A., The Bank of Nova Scotia, Capital One, N.A., Deutsche Bank AG New York Branch and Morgan Stanley served as documentation agents.
About RPAI
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of September 30, 2015, the Company owned 201 retail operating properties representing 29.2 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.
Contact Information
Michael Fitzmaurice, VP - Finance
Retail Properties of America, Inc.
(630) 634-4233
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SOURCE Retail Properties of America, Inc.
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