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Centerspace Amends and Extends Its Existing $250 Million Revolving Credit Facility

09/30/2021 | 05:00pm
Centerspace announced that it has amended and extended its existing $250 million revolving credit facility. The new facility includes an accordion feature for up to $400 million and matures in September 2025 with two optional six-month extensions. In addition to the new line of credit, the existing bank term loans totaling $145 million were repaid in full with proceeds from the issuance of $125 million in unsecured senior notes as well as the additional proceeds from the KMS portfolio refinance. Bank of Montreal served as administrative agent for the extension of the credit facility with BMO Capital Markets Corp., BofA Securities Inc. and PNC Capital Markets, LLC as, joint lead arrangers and joint book runners.
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