Kimco gets $400 million term loan due 2014 at Libor plus 105 bps

By Toni Weeks

San Diego, April 17 - Kimco Realty Corp. arranged a new $400 million unsecured term loan due April 17, 2014, according to a press release.

PNC Bank, NA is the administrative agent for the new loan, and PNC Capital Markets LLC is the arranger and bookrunner. Regions Bank, Wells Fargo Bank, NA and JPMorgan Chase Bank, NA are syndication agents, and Citibank, NA and U.S. Bank NA are documentation agents.

The maturity date can be extended three times by one year each time, pushing the maturity to April 17, 2017.

Interest will accrue at Libor plus 105 basis points.

Proceeds will be used for general corporate purposes, including the repayment of upcoming debt maturities.

Kimco is a real estate investment trust based in New Hyde Park, N.Y.

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