By Lisa Kerner
Charlotte, N.C., May 7 - Americold Realty Trust announced it issued $322 million of 10-year debt at an average interest rate of 5.35%.
Proceeds were used to refinance a CMBS pool maturing in 2014.
"The completion of this financing is an important step in Americold's efforts to ... expand our logistics network," executive vice president and chief financial officer Allison Aden said in a news release.
Americold also increased its revolving credit facility to $100 million and will use those funds for general business purposes, according to the release.
JPMorgan acted as the structuring agent and lender for the debt transaction and as the administrative agent for the revolving credit facility.
Americold is an Atlanta-based temperature-controlled warehouse real estate investment trust.
| Issuer: | Americold Realty Trust
|
| Issue: | Debt
|
| Amount: | $322 million
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| Maturity: | 10 years
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| Coupon: | Average rate of 5.35%
|
| Agent: | JPMorgan
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