Select Income REIT to repay revolver debt via note offering proceeds

By Tali Rackner

Minneapolis, May 10 – Select Income REIT plans to repay amounts outstanding under its revolving credit facility using the net proceeds from a new senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of May 5, there was $367 million outstanding under the revolver, which matures on March 29, 2019 and bears interest at Libor plus 200 bps.

Proceeds will also be used for general business purposes.

Select Income REIT is a real estate investment trust, which owns properties that are primarily net leased to single tenants. The company is based in Newton, Mass.

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