InvenTrust Secures $300M Unsecured LoanBy
The Highlands of Flower Mound, a shopping center in Flower Mound, TX, one of InvenTrust’s top acquisitions this year
CHICAGO—Officials from InvenTrust Properties Corp.said last week that they had entered into a new $300 million unsecured term loan credit facility with a group of lenders led by Wells Fargo Securities, LLC. The company can use the facility for general corporate purposes including acquisitions and maturing debt payoffs. It significantly increases InvenTrust’s financial resources for both working capital and the company’s future debt maturities.
“The execution of this new credit facility provides an opportunity to enhance InvenTrust’s strong capital position and balance sheet capacity,” says Michael E. Podboy, executive vice president – chief financial officer, chief investment officer of InvenTrust. “We also expect it will lower our overall cost of financing and fund the retirement of a portion of our secured debt maturing in 2017.”…
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