Centerline amends and restates credit facility to extend maturities

By Sara Rosenberg

New York, Dec. 30 - Centerline Holding Co. amended and restated its credit facility, extending maturities of term loan and revolver borrowings, according to an 8-K filed with the Securities and Exchange Commission.

Roughly $69 million of term loan debt was extended to Dec. 31, 2009, $25 million of revolver borrowings was extended to Dec. 31, 2010 and $220 million of revolver borrowings was extended to Sept. 30, 2010.

The term loan is priced at Libor plus 450 basis points, and the revolver is priced at Libor plus 600 bps until the term loan is paid in full and Libor plus 500 bps thereafter.

The amendment and restatement was completed on Dec. 23.

Bank of America is the administrative agent on the deal.

Centerline is a New York-based investment holding firm.

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