PREIT Strengthens Balance Sheet With $646 Million in Financings
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PREIT (PEI) Modifies, Extends $400M Revolver, Term Loan Facility
June 30, 2015 4:36 PM EDTPREIT (NYSE: PEI) has entered into a modification and extension of its $400 million unsecured Revolving Credit Facility ("Amended 2013 Revolving Facility") and a new Term Loan ("2015 5-Year Term Loan") offering increased flexibility and reduced rates to help fund the Company's growth objectives. The Amended 2013 Revolving Facility replaces the 2013 Revolving Facility.
Key terms of the Amended 2013 Revolving Facility are:
The available amount is $400 million and includes an accordion feature up to $600 million.The initial term is three years and the Company has the right to two one-year... More