Kimco Realty concludes $650 million term loan at Libor plus 95 bps

New York, Feb. 2 – Kimco Realty Corp. said it closed on a $650 million unsecured term loan due Jan. 30, 2017.

Interest on the debt is Libor plus 95 basis points, according to a news release.

Kimco has three one-year options to extend the loan for a possible final maturity of Jan. 30, 2020.

PNC Capital Markets LLC and Regions Capital Markets are joint lead arrangers and bookrunners, Regions Bank, Wells Fargo Bank, NA and JPMorgan Chase Bank, NA are syndication agents, PNC Bank, NA is administrative agent and Bank of New York Mellon and U.S. Bank NA are documentation agents.

Proceeds from the new loan were used to repay outstanding borrowings under the company’s $400 million credit facility dating from April 2012. Remaining proceeds will be used for general corporate purposes.

Kimco is a New Hyde Park, N.Y., real estate investment trust that owns and operates neighborhood and community shopping centers.

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