Wheeler REIT lifts revolving line to $75 million, adds Libor floor

By Marisa Wong

Morgantown, W.Va., Dec. 12 – Wheeler REIT, LP, a Virginia limited partnership of which Wheeler Real Estate Investment Trust, Inc. is the sole general partner, amended its credit agreement dated May 29, 2015 with KeyBank NA to increase the revolving credit line by $25 million for a total of $75 million, according to an 8-K filing with the Securities and Exchange Commission.

Under the second amendment, completed Dec. 7, pricing reverts back to the original credit agreement with the additional provision of a 0% Libor floor.

The applicable margin for Libor loans ranges from 175 basis points to 250 bps, depending on the company’s consolidated leverage ratio, according to the original credit agreement.

The commercial real estate investment company is based in Virginia Beach, Va.

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