WCI Communities amends loan, increasing size, extending tenor, lowering rate

By Sara Rosenberg

New York, June 14 - WCI Communities Inc. amended its unsecured revolving credit facility Wednesday, increasing the size to $900 million from $875 million, extending the maturity and lowering the rate, according to a company news release.

In addition, the amendment favorably modifies covenants.

There is a $600 million accordion feature.

Bank of America is the administrative agent on the deal.

WCI is a Bonita Springs, Fla.-based builder of traditional and tower residences in highly amenitized lifestyle communities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.