HOUSTON--(BUSINESS WIRE)--Weingarten Realty Investors (NYSE: WRI) announced today the closing of a $200 million unsecured term loan that will mature on March 2, 2020. The loan was priced at a spread of 115 basis points over LIBOR. The loan was swapped to a fixed coupon of 2.64%.
Weingarten intends to use the proceeds of the term loan to repay amounts outstanding under its unsecured revolving credit facility.
Regions Capital Markets and U.S. Bank National Association are the joint lead arrangers and joint bookrunners. Regions Bank is the administrative agent and U.S. Bank National Association is the syndication agent for the new term loan. Other participants in the term loan included Royal Bank of Canada, The Bank of Nova Scotia, The Branch Banking and Trust Company, and The Northern Trust Company.
About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At December 31, 2014, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 237 properties which are located in 21 states spanning the country from coast to coast. These properties represent approximately 45.3 million square feet of which our interests in these properties aggregated approximately 27.8 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.