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Terrafina draws down $150 million under revolving credit facility
By Wendy Van Sickle
Columbus, Ohio, April 6 – Terrafina drew down $150 million of its revolving credit line maturing in January 2023, according to a news release.
The proceeds will be used as a contingency plan if needed in addition to current leasing revenues to shield Terrafina’s operations amid the Covid-19 pandemic
Borrowings bear interest at Libor plus 245 basis points.
Terrafina said it remains in compliance with its financial obligations for leverage and interest coverage.
Terrafina is a Mexico City-based real estate investment trust with a focus on industrial properties. It is externally advised by Prudential Real Estate Investors.
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