|
|
Article: United States: NorthStar Realty Finance Renews Credit Facility for Three Years.
- Article from:
- TendersInfo
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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)
|
Byline: Mamta03
NorthStar Realty Finance Corp. today announced that it has completed a three year renewal and restructuring of its $374 million credit facility with Wachovia Bank, National Association ("Wachovia"), a subsidiary of Wells Fargo & Company ("Wells Fargo"). Significant components of the renewed credit facility include the following:
The maturity date of the credit facility is extended for 3 years to October 28, 2012.
The interest rate on the credit facility will be LIBOR plus 350 basis points.
There are no restrictions on dividends as long as the semi-annual reductions to the credit facility described below are met.
...