NEWTON, Mass.--(BUSINESS WIRE)--
Government Properties Income Trust (NYSE: GOV) today announced the
closing of a new five year $350 million unsecured term loan. The loan
matures on January 11, 2017, and is prepayable without penalty at any
time. Terms of the new loan include interest at LIBOR plus 175 basis
points, subject to adjustments based on changes to GOV's credit ratings.
GOV expects to use the net proceeds of the term loan to repay amounts
outstanding under its $550 million revolving credit facility and fund
general business activities, including possible future acquisitions.
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Name of Institution
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Title
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Wells Fargo Bank, N.A.
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Lead Arranger / Administrative Agent
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Citibank, N.A.
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Lead Arranger / Syndication Agent
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Regions Bank
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Documentation Agent
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Royal Bank of Canada
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Documentation Agent
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U.S. Bank National Association
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Documentation Agent
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BBVA Compass Bank
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Documentation Agent
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RBS Citizens, N.A.
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Documentation Agent
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Capital One, N.A.
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Lender
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PNC Bank, National Association
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Lender
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TD Bank, N.A.
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Lender
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Union Bank, N.A.
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Lender
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Comerica Bank
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Lender
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First Commercial Bank
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Lender
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First Hawaiian Bank
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Lender
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Chang Hwa Commercial Bank, Ltd.
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Lender
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E. Sun Commercial Bank, Ltd.
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Lender
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Mega International Commercial Bank
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Lender
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Government Properties Income Trust is a real estate investment trust, or
REIT, which owns properties leased primarily to the U.S. Government and
state governments located throughout the United States. GOV is
headquartered in Newton, Massachusetts.
WARNING REGARDING 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 FEDERAL SECURITIES LAWS. THESE INCLUDE STATEMENTS
REGARDING THE INTEREST PAID UNDER THE TERM LOAN AND ITS INTENDED
APPLICATION OF NET PROCEEDS. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM
THOSE CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A
RESULT OF VARIOUS FACTORS AND SOME OF THESE FACTORS ARE BEYOND GOV'S
CONTROL. FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS ARE NOT
GUARANTEED TO OCCUR AND MAY NOT OCCUR. YOU SHOULD NOT PLACE UNDUE
RELIANCE UPON GOV'S FORWARD LOOKING STATEMENTS. EXCEPT AS MAY BE
REQUIRED BY LAW, GOV 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.
Government Properties Income Trust
Timothy A. Bonang, 617-219-1410
Vice
President, Investor Relations
or
Elisabeth A. Heiss,
617-219-1410
Manager, Investor Relations
www.govreit.com
Source: Government Properties Income Trust
News Provided by Acquire Media