Newton-based Select Income REIT (SIR) has closed on a five-year, $350 million unsecured term loan.

SIR expects to use the net proceeds of the term loan to repay amounts outstanding under its $500 million revolving credit facility and to fund general business activities, including possible future acquisitions. Terms of the loan include interest at LIBOR plus 155 basis points, subject to adjustments based on changes to SIR’s leverage. The loan matures on July 11, 2017.

Wells Fargo Securities, LLC, Citigroup Global Markets, Inc. and RBC Capital Markets, LLC served as joint lead arrangers for the term loan.

Select Income REIT Closes $350M Unsecured Term Loan

by Banker & Tradesman time to read: <1 min
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