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Vereit to repay revolving loans due 2022 via proceeds from new notes
By Susanna Moon
Chicago, Oct. 4 – Vereit Operating Partnership LP plans to repay debt under its revolving credit facility due May 23, 2022 using proceeds of new senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
As of June 30, interest on the loans was 3.29%, with a spread ranging from Libor plus 77.5 basis points to 155 bps, based on the company’s credit ratings.
The revolver has two six-month extension options.
Vereit is a Phoenix-based owner and manager of a portfolio of retail, restaurant, office and industrial real estate assets.
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