SAN FRANCISCO--()--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, added a new five-year $50.0 million term loan and amended its existing $100.0 million revolving credit agreement to extend the maturity date and decrease the annual interest rate.
The five-year $50.0 million term loan bears interest at an annual rate of LIBOR plus 1.65% to 2.65% depending on leverage and Terreno Realty Corporation has up to six months to borrow the full $50.0 million. In addition, Terreno Realty Corporation amended its revolving credit facility, extending the maturity by approximately one year to January 17, 2016 and decreasing the annual rate of interest by 85 basis points to LIBOR plus 1.65% to 2.65% depending on leverage.
The new $50.0 million term loan and amended $100.0 million credit facility was led by Key Bank as Administrative Agent and Lead Arranger, and a syndicate of financial institutions including PNC Bank, National Association, Union Bank, N.A. and Regions Bank as additional lenders.
Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
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