2023-06-29 10:53:16 ET
- Alexandria Real Estate Equities ( NYSE: ARE ) on Thursday announced the increase in commitments available under its unsecured senior line of credit from $4B to $5B .
- This further adds to the REIT's significant liquidity of $5.3B as of March 31.
- The margin at closing applicable to loans based on the floating rate and daily risk-free rate is 0.735%, including the sustainability margin adjustment reduction of four basis points.
- The amended deal can be expanded to up to $6B under an accordion feature. The maturity date of January 22, 2028 was unchanged.
- Now read - Alexandria Real Estate: Rejecting The Office REIT Comparison
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Alexandria Real Estate announces $1B additional commitments for credit line