American Realty Capital completes $115 million credit facility

By Sara Rosenberg

New York, Aug. 18 - American Realty Capital Trust closed on a new $115 million 36-month unsecured revolving credit facility, according to a news release.

RBS Citizens Bank acted as the lead bank on the deal and agreed to hold $50 million of the deal. The remaining $65 million was syndicated to Goldman Sachs & Co.

Pricing is based on the company's corporate leverage ratio, which is currently less than 40%, putting interest at around 2.25%, the release said.

There is a $135 million accordion feature.

Proceeds will primarily be used for property acquisitions, for working capital and for any other permitted legal purpose.

American Realty is a New York-based real estate investment trust with a core investment strategy to acquire, own and manage a portfolio of retail and commercial properties.

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