Weingarten Renews and Extends Credit Facility

Published Monday, February 22, 2010

Weingarten Realty Investors closed on an amended and restated three-year $500 million unsecured revolving credit facility. The amended facility will mature in February of 2013. Borrowing rates under the amended facility float at a margin over LIBOR, plus a facility fee. The borrowing margin and facility fee are priced off a grid that is tied to Weingarten’s senior unsecured credit ratings. The amended facility also contains a competitive bid option feature that will allow the Company to request bids for up to $250 million. Additionally, the amended facility contains an accordion feature, which allows the company the ability ...

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