Municipal Mortgage & Equity amends loan, extending tenor, reducing size

By Sara Rosenberg

New York, May 18 - Municipal Mortgage & Equity, LLC amended its credit facility, extending the maturity for 364 days to May 1, 2008 and reducing the size to $100 million from $250 million, according to an 8-K filed with the Securities and Exchange Commission Friday.

The loan has a 30-day extension option.

The amendment is effective as of May 14.

Bank of America is the administrative agent on the deal.

Municipal Mortgage & Equity is a Baltimore-based provider of debt and equity financing to developers of multifamily and commercial properties.

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