Newton-based CommonWealth REIT has secured a five-year, $400 million unsecured term loan.
The loan matures on Dec. 15, 2015, and is prepayable, without penalty, beginning in December 2012, according to a statement. Terms of the new loan include interest at LIBOR plus 200 basis points, subject to adjustments based on changes to CommonWealth’s credit ratings.
CommonWealth expects to use the net proceeds of the term loan to repay amounts outstanding under its $750 million revolving credit facility and fund general business activities.





