PMC subsidiary ups bridge loan credit agreement to $200 million

By Tali Rackner

Norfolk, Va., April 11 - PMC Commercial Trust wholly owned subsidiary CIM Urban Partners, LP amended some of its credit agreements on April 7, according to an 8-K filing with the Securities and Exchange Commission.

The company amended its bridge loan credit agreement dated Aug. 28, 2013 to increase the aggregate commitments available to $200 million from $150 million.

Following that amendment, CIM also amended its credit agreement dated Feb. 6, 2012 to evidence the increased commitments under the bridge loan credit facility.

Bank of America, NA is the administrative agent for both facilities.

PMC is a Sunnyvale, Calif.-based maker of broadband communications and storage semiconductors.

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