Woodlands Commercial Properties launches $400 million credit facility

By Sara Rosenberg

New York, Oct. 17 - Woodlands Commercial Properties Co. LP launched a $400 million credit facility on Wednesday, according to a syndicate source. Fleet National Bank is the lead bank on the deal.

The loan consists of a $100 million three-year revolver with an interest rate of Libor plus 250 basis points and a $300 million three-year term loan B with an interest rate of Libor plus 300 basis points, according to the syndicate source.

Proceeds will be used to refinance existing debt.

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