SAN DIEGO, March 06, 2023 (GLOBE NEWSWIRE) — Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that it amended and extended its $600 million unsecured credit facility, extending the maturity date by three years (from February 2024 to March 2027). Additionally, the interest rate will now be based on the Secured Overnight Financing Rate (“SOFR”) with an adjusted pricing grid, and a Sustainability Metric feature, and related pricing grid, were also added. Existing provisions to extend the maturity date for two consecutive six-month periods and an accordion feature, which allows the Company to increase the facility amount by an additional $600 million, were maintained. Additionally, ROIC amended its $300 million unsecured term loan, which will also now be based on SOFR. The accordion feature provision, which allows the Company to increase the facility amount by an additional $200 million, was maintained. Michael B. Haines, Chief Financial Officer of Retail Opportunity Investments Corp. stated, “By extending out the maturity date on our credit line, we continue to maintain our long-standing, strong and flexible financial position.” The unsecured credit facility’s banking group included KeyBanc Capital Markets, Inc., M&T Bank, PNC Capital Markets LLC, Regions Bank and U.S. Bank, National Association as Joint […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
