Monogram Residential Trust Enters Into $200 Mln Revolving Credit Facility

(RTTNews) - Monogram Residential Trust, Inc. (MORE) said it has entered into a new $200 million revolving credit facility through Monogram Residential OP LP, its operating partnership.

The company noted that execution of the new credit facility will provide it with additional capital flexibility and capacity. The credit facility has an annual interest rate and annual facility fee that depend on certain company elections, whether the company has an investment grade rating and its leverage ratio.

Based on these factors, the current annual interest rate would be LIBOR plus 2.50 percent. The credit facility will mature on January 14, 2019, but may be extended for 12 additional months at the company's option.