EdR Completes $375 Million Senior Unsecured Revolving Credit Facility

  EdR Completes $375 Million Senior Unsecured Revolving Credit Facility

       Increases Financial Capacity and Lowers Overall Cost of Capital

Business Wire

MEMPHIS, Tenn. -- January 15, 2013

EdR (NYSE:EDR), one of the nation’s largest developers, owners and managers of
collegiate housing, announced today the closing of a restatement and amendment
to its revolving credit facility. The credit facility will increase in size to
$375 million from $175 million. This facility also contains an accordion
feature which allows EdR to increase the size of the credit facility to $500
million.

“The conservative management of our capital structure has provided a strong
balance sheet, allowing us to secure additional capacity on our credit
facility and reduce our overall cost of capital,” said Randy Brown, EdR’s
chief financial officer. “We value our lending partners’ continued support,
which facilitates our strategy, enhances our financial flexibility and allows
us to finance future growth at advantageous rates.”

The credit facility has an initial term of four years with one 12-month
extension available under certain conditions. At the borrower’s option, the
interest rate per annum is equal to a base rate or LIBOR plus an applicable
margin ranging from 145 to 205 basis points, depending upon leverage.

The transaction was led by KeyBanc Capital Markets with PNC Capital Markets
LLC, RBC Capital Markets and Regions Capital Markets also acting as
Co-Bookrunners and Co-Lead Arrangers. KeyBank National Association is acting
as Administrative Agent with the remaining lender group comprising PNC Bank
National Association, Regions Bank, Royal Bank of Canada, Bank of America,
N.A., U.S. Bank National Association, First Tennessee Bank, N.A. and
Metropolitan Bank.

About EdR

EdR (NYSE:EDR) is one of America's largest owners, developers and managers of
collegiate housing. A self-administered and self-managed real estate
investment trust, EdR owns or manages 67 communities in 24 states with more
than 37,000 beds within more than 12,000 units. For more information, please
visit the company's Web site at www.EdRtrust.com.

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Contact:

EdR
Randall H. Brown, Executive Vice President, CFO & Treasurer
901-259-2500
rbrown@edrtrust.com
Susan Jennings, Vice President, Corporate Communications and Marketing
901-259-2506
sjennings@edrtrust.com
 
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