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Article: SANTA ANITA COMPLETES $45.5 MILLION FINANCING; PROCEEDS WILL BE USED TO REDUCE DEBT
- Article from:
- PR Newswire
- Article date:
- January 9, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARCADIA, Calif., Jan. 9 /PRNewswire/ -- The Santa Anita Companies (NYSE: SAR) today announced the completion of $45.5 million of new financing arrangements with First Interstate Bank. These financings consist of a $30.0 million revolving credit facility and $15.5 million of mortgage notes.
Separately, Santa Anita and The Hahn Company recently completed the refinancing of the mortgage debt on the Santa Anita Fashion Park Mall through a new $62.4 million loan agreement with Teachers Insurance and Annuity Association. The Teachers' financing bears interest at 9.1% and is due in January 2003. The additional borrowing under this facility provides permanent financing ...