This Week
  • Architect David Hanlon has worked with some of the area's leading developers.

  • For startup companies, legal and accounting missteps can prove costly.

  • Wilmorite hopes soon to win approval for $425M casino in Seneca County.

  • ID Signsystems Inc. has grown from a local company into an international business.

  • Robert Linton guides Jazz 90.1 through a new era in media.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

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