Select Income REIT Expands Credit Facility to $750 Million
NEWTON, Mass. -- February 4, 2013
Select Income REIT (NYSE: SIR) today announced that it has increased its $500
million unsecured revolving credit facility to $750 million. The maturity date
for the expanded facility remains unchanged at March 11, 2016 and the expanded
facility retains a borrower’s option to extend the facility for one year.
Interest paid on drawings under the facility also remains unchanged at LIBOR
plus 130 basis points.
Banks that participated in the $250 million expansion include the following:
Wells Fargo Bank, N.A., Bank of America, N.A., Morgan Stanley Bank, N.A.,
Royal Bank of Canada, Citigroup Global Markets Inc., RBS Citizens, N.A.,
Regions Bank, UBS Loan Finance LLC, and Mizuho Corporate Bank, Ltd.
Select Income REIT is a real estate investment trust, or REIT, which owns
properties that are primarily net leased to single tenants. SIR is
headquartered in Newton, MA.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD LOOKING
STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995 AND OTHER SECURITIES LAWS. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM
THOSE CONTAINED OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A RESULT OF
VARIOUS FACTORS. FOR EXAMPLE:
*CONTINUED AVAILABILITY OF BORROWINGS UNDER THE AMENDED CREDIT FACILITY IS
SUBJECT TO SIR’S SATISFYING CERTAIN FINANCIAL COVENANTS AND MEETING OTHER
*THE 130 BASIS POINT SPREAD UNDER THE AMENDED CREDIT FACILITY IS SUBJECT TO
ADJUSTMENT BASED ON CHANGES TO OUR LEVERAGE OR OUR CREDIT RATINGS (IF
ANY), AND ACTUAL COSTS UNDER THE AMENDED CREDIT FACILITY WILL BE HIGHER
THAN LIBOR PLUS THE SPREAD BECAUSE OF OTHER FEES AND EXPENSES ASSOCIATED
WITH THE AMENDED CREDIT FACILITY.
SOME OF THESE FACTORS ARE BEYOND SIR’S CONTROL. FORWARD LOOKING STATEMENTS ARE
NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. FOR THE FOREGOING REASONS, AMONG
OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD
LOOKING STATEMENTS. EXCEPT AS REQUIRED BY LAW, SIR DOES NOT INTEND TO UPDATE
OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION,
FUTURE EVENTS OR OTHERWISE.
A Maryland Real Estate Investment Trust with transferable shares of beneficial
interest listed on the New York Stock Exchange.
No shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
Select Income REIT
Timothy A. Bonang, 617-796-8320
Vice President, Investor Relations
Carlynn Finn, 617-796-8320
Senior Manager, Investor Relations
Press spacebar to pause and continue. Press esc to stop.