Hines Global Income Trust obtains $55 million credit agreement

By Sarah Lizee

Olympia, Wash., Sept. 19 – Hines Global Income Trust, Inc.’s operating partnership, Hines Global REIT II Properties, LP, entered into a $55 million credit agreement with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for borrowings denominated in U.S. dollars, pounds sterling, euros, Australian dollars, Canadian dollars or Japanese yen.

The initial aggregate amount of the lender’s commitments is $55 million, with aggregate foreign currency commitments constituting up to 50% of that amount.

The initial commitment is a revolving loan commitment; however, the credit agreement also provides for the possibility of term loan commitments by the existing lender or additional lenders.

Pending future commitments, the maximum aggregate borrowings could be increased to up to $300 million.

The credit agreement has a maturity date of Sept. 13, 2022, subject to two 12-month extensions at the option of the company.

Interest is Libor plus 135 basis points to 205 bps, depending on the ratio and whether it is a revolving loan or a term loan.

Hines Global Income Trust is a real estate investment trust based in Houston.

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