Retail Opportunity Investments Corp. Extends Unsecured Credit Facility and Term Loan
September 11 2017 - 8:30AM
Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today
that it has amended and restated its unsecured credit facility,
modifying certain key terms, including: 1) increasing the borrowing
capacity from $500 million to $600 million; 2) increasing the
accordion feature, enabling the company to expand the borrowing
capacity to $1.2 billion, subject to commitments and other
customary conditions; and 3) extending the maturity date to
September 2021. Additionally, ROIC amended and restated its
$300 million unsecured term loan, maintaining the accordion
feature, which enables the company to increase the term loan to
$500 million, subject to commitments and other customary condition,
and extending the maturity date to September 2022.
Michael B. Haines, Chief Financial Officer of
Retail Opportunity Investments Corp. stated, “By extending out the
maturity dates on our credit line and term loan, we now have no
meaningful debt scheduled to mature during the next four
years. Looking out further, our debt maturity schedule is
well-laddered. Accordingly, we continue to maintain our
long-standing, strong and flexible financial position.”
The unsecured credit facility’s banking group
included KeyBanc Capital Markets, Inc., PNC Capital Markets LLC and
U.S. Bank, National Association as Joint Lead Arrangers, with
KeyBank National Association as Administrative Agent, Swing Line
Lender and L/C Issuer. Other participants included Bank of
America, N.A., BMO Harris Bank, N.A., Capital One, National
Association, Citibank, N.A., JPMorgan Chase Bank, N.A., Regions
Bank, Royal Bank of Canada and Wells Fargo Bank, National
Association.
The unsecured term loan’s banking group included
KeyBanc Capital Markets, Inc., BMO Capital Markets and Regions
Capital Markets as Joint Lead Arrangers, with KeyBank National
Association as Administrative Agent and Capital One, National
Association as Documentation Agent. Other participants
included Bank of America, N.A., Citibank, N.A., JPMorgan Chase
Bank, N.A., PNC Bank, National Association, Royal Bank of Canada,
U.S. Bank, National Association and Wells Fargo Bank, National
Association.
ABOUT RETAIL OPPORTUNITY INVESTMENTS
CORP.
Retail Opportunity Investments Corp. (NASDAQ:
ROIC), is a fully-integrated, self-managed real estate investment
trust (REIT) that specializes in the acquisition, ownership and
management of grocery-anchored shopping centers located
in densely-populated, metropolitan markets across the
West Coast. As of June 30, 2017, ROIC owned 86 shopping
centers encompassing approximately 9.9 million square feet.
ROIC is the
largest publicly-traded, grocery-anchored shopping
center REIT focused exclusively on the West Coast. ROIC
is a member of the S&P SmallCap 600 Index and has
investment-grade corporate debt ratings from Moody's Investor
Services and Standard & Poor's. Additional information is
available at: www.roireit.net.
When used herein, the words "believes,"
"anticipates," "projects," "should," "estimates," "expects,"
“guidance” and similar expressions are intended to identify
forward-looking statements with the meaning of that term in Section
27A of the Securities Act of 1933, as amended, and in Section 21F
of the Securities and Exchange Act of 1934, as amended. Certain
statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results of ROIC to differ materially from future
results expressed or implied by such forward-looking statements.
Information regarding such risks and factors is described in ROIC's
filings with the SEC, including its most recent Annual Report on
Form 10-K, which is available at: www.roireit.net.
Contact:Ashley Rubino, Investor
Relations858-255-4913arubino@roireit.net
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