The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 18, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Rexford Industrial Realty Increases Borrowing Capacity of Revolving Credit Facility by $200 Mil

7/02/21

Rexford Industrial Realty has exercised the accordion option of the company's existing unsecured revolving credit facility and increased the borrowing capacity by $200 mil, from $500 mil to $700 mil. All other material terms and conditions of the company's unsecured revolving credit facility remain unchanged.

Separately, the company announced the successful repricing of its $150 mil unsecured term loan facility maturing May 22, 2025. Pricing was reduced by 60 basis points so that current pricing is LIBOR plus a spread of 95 basis points, subject to the company's credit ratings, with all other material terms and conditions unchanged.

"The increased capacity of our unsecured revolving credit facility expands our substantial liquidity, further supporting our strong embedded internal and external growth prospects within infill Southern California, the nation's strongest industrial market," stated Laura Clark, Chief Financial Officer at Rexford. "We are committed to maintaining a best-in-class, low-leverage balance sheet enabling Rexford to maximize long-term shareholder value."

In connection with the increased borrowing capacity on the company's unsecured revolving credit facility, the syndicate of lenders was expanded to include Goldman Sachs Bank USA, Mizuho Bank, LTD. and The Bank of Nova Scotia.

Lenders for the $150 mil unsecured term loan facility maturing May 22, 2025, include Capital One, National Association, as administrative agent and lead arranger, and Truist Bank.






Return to the Archive page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media