This Week
  • CEO Eric Bieber M.D. must meld two systems, transition to new model.

  • President Kevin Bragg has built a career with Chrisanntha Construction Corp.

  • Planning can help reduce conflict when the time comes to end a business partnership.

  • Viewpoint Systems has been known to keep a close eye on its customers.

  • Twenty-year-old Jaquan Outlaw is off to a fast start.

  • A recent visit to Ho Chi Minh City in Vietnam was an eye-opener for RIT students.

Home Properties boosts unsecured line of credit

Rochester Business Journal
August 23, 2013

Home Properties Inc. has entered into amendment and restatement of its unsecured line of credit agreement, increasing the amount of the revolving line to $450 million from $275 million.

The maturity date of the line was extended from Dec. 8, 2015, to Aug.18, 2017, and may be extended at the company’s option for an additional one-year period. In addition, the existing $250 million term loan has been extended until Aug.18, 2018, from Dec. 8, 2016.

“There was a very high level of interest in participating in the increased credit facility,” said David Gardner, Home Properties executive vice president and chief financial officer, in a statement. “The additional liquidity enhances our financial flexibility and ability to use unsecured rather than secured debt for business needs, further strengthening the company’s credit profile.”

Rates, terms and conditions for the credit facility remain the same as in the prior agreement. 

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google