Federal Realty Investment Trust Enters into New $200 Million Term Loan
ROCKVILLE, Md., Nov. 9 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that the Company entered into a new $200 million unsecured term loan facility. The new facility has a one-year term with one one-year extension option and bears interest at LIBOR plus 57.5 basis points, based on the Company's current credit ratings.
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The Lead Arranger and Book-Runner for the new facility is Wachovia Capital Markets, LLC. Wachovia Bank, National Association serves as the Administrative Agent. Bank of America, N.A., JPMorgan Chase Bank, N.A., SunTrust Bank and U.S. Bank National Association, serve as Documentation Agents.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.2 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 96.4% leased to national, regional, and local retailers as of September 30, 2007, with no single tenant accounting for more than approximately 2.9% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 40 consecutive years, the longest record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT.
Investor and Media Inquiries Andrew Blocher Vikki Kayne, SCMD Senior Vice President, Vice President, Capital Markets & Investor Relations Marketing & Corporate Communications 301/998-8166 301/998-8178 email@example.com firstname.lastname@example.org
SOURCE Federal Realty Investment Trust -0- 11/09/2007 /CONTACT: Andrew Blocher, Senior Vice President, Capital Markets & Investor Relations, +1-301-998-8166, email@example.com, or Vikki Kayne, Vice President, Marketing & Corporate Communications, +1-301-998-8178, firstname.lastname@example.org, both of Federal Realty Investment Trust/ /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, email@example.com/ /Web site: http://www.federalrealty.com / (FRT) CO: Federal Realty Investment Trust ST: Maryland IN: FIN RLT REA SU: DR-PM -- NEF051 -- 7498 11/09/2007 12:01 EST http://www.prnewswire.com