American Campus $225 million revolver pricing ranges from Libor plus 275 to 350 bps

By Sara Rosenberg

New York, Aug. 17 - American Campus Communities Inc.'s $225 million three-year senior secured revolving credit facility carries pricing that can range from Libor plus 275 basis points to 350 bps based on leverage, according to an 8-K filed with the Securities and Exchange Commission on Monday.

KeyBank acted as the lead arranger and administrative agent on the deal that was completed on Friday.

The facility has a one-year extension option.

Security is seven properties.

Proceeds are being used to replace the company's existing $160 million revolver and to fund acquisitions, other working capital needs and future property development.

American Campus is an Austin, Texas-based real estate investment trust focused on student housing properties.

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