Select Income adds four banks under commitment letter with Citi, UBS

By Marisa Wong

Madison, Wis., Sept. 15 – Select Income REIT entered into a joinder agreement on Sept. 9 to amend its previously announced commitment letter with Citigroup Global Markets Inc., UBS AG, Stamford Branch and UBS Securities LLC, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company amended the Aug. 30 commitment letter to add Bank of America, NA, Royal Bank of Canada, Jefferies Finance LLC and Morgan Stanley Bank, NA as additional financial institutions providing commitments.

As disclosed on Sept. 2, Citi and UBS fully committed to a $1 billion one-year bridge loan facility.

The company will use borrowings under its revolving credit facility and bridge loan to fund its acquisition of Cole Corporate Income Trust for about $3 billion.

Select Income owns properties that are primarily net leased to single tenants and is based in Newton, Mass.

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