INDIANAPOLIS, IN--(Marketwired - Oct 9, 2014) - DUKE REALTY CORPORATION (
In tandem with closing the revolving credit facility, the Company extended the maturity of its $250 million unsecured term loan from May 2018 to January 2019. The renewed term loan bears interest at LIBOR plus 1.15 percent and has a one-year extension option. The rate on the previous term loan was LIBOR plus 1.35 percent and did not have an extension option.
"Our expanded facility at a lower cost with over five years of term further enhances our financial flexibility and is a testament to the strength of our balance sheet," said Mark Denien, Chief Financial Officer. "We are very pleased with the strong demand and continued support from the high caliber financial institutions who participated in our credit facility."
JPMorgan Securities LLC and Wells Fargo Securities, LLC were the Joint Lead Arrangers and Joint Book Runners, with JPMorgan Chase Bank, N.A. as Administrative Agent, and Wells Fargo Bank, National Association as Syndication Agent. Morgan Stanley Senior Funding, Inc.; PNC Bank; Regions Bank; Royal Bank of Canada; SunTrust Bank; The Bank of Nova Scotia and U.S. Bank National Association were Documentation Agents.
Other lenders participating on the unsecured revolving credit facility include: Associated Bank, N.A; Barclays Bank PLC; Branch Banking and Trust Company (BB&T); Citibank N.A.; The Northern Trust Company and UBS AG, Stamford Branch.
About Duke Realty
Duke Realty owns and operates more than 156 million rentable square feet of industrial and office, including medical office, space across 22 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.
Contact Information:
Contact Information:
Investors:
Ron Hubbard
317.808.6060
Media:
Helen McCarthy
317.708.8010