DDR Gets $1.2 Billion of Bank Loans at Lower Interest Rate
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DDR Corp., a real estate investment trust that owns shopping centers in the U.S., Puerto Rico and Brazil, got $1.2 billion of loans to refinance debt on cheaper terms while pushing out maturities.
A $750 million revolving credit line and a $400 million term loan maturing in 2017 will replace two revolvers that were set to mature in 2016 and a term loan due in 2014, according to a statement distributed today by PR Newswire.