RAMCO-GERSHENSON PROPERTIES TRUST (NYSE:RPT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement
On September 14, 2017, Ramco-Gershenson Properties, L.P. (the “Operating Partnership”), the majority-owned operating partnership of Ramco-Gershenson Properties Trust (the “Registrant”), entered into a Fourth Amended and Restated Credit Agreement (the “Fourth Amendment”). The Fourth Amendment amends and restates the Registrant's existing credit agreement with a number of financial institutions to provide an unsecured credit facility in the aggregate amount of $350 million with the ability to increase borrowing capacity up to $650 million through an accordion feature. The credit facility matures on September 14, 2021, and may be extended by the Registrant for two periods of six months each subject to continued compliance with the terms of the credit facility and the payment of an extension fee of 0.075%. Borrowings on the facility will be priced at London Interbank Offered Rate (LIBOR) plus a margin of between 1.30% and 1.95%, based on the Registrant’s leverage ratio as calculated under the credit facility.
Upon closing, the Operating Partnership had $168 million outstanding on the revolving line of credit.
Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of
The information set forth in Item 1.01 is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
RAMCO GERSHENSON PROPERTIES TRUST ExhibitEX-10.1 2 ex101_rpt-fourthamendedand.htm EXHIBIT 10.1 FOURTH AMENDED AND RESTATED CREDIT AGREEMENT Exhibit Exhibit 10.1FOURTH AMENDED AND RESTATED CREDIT AGREEMENTDATED AS OF SEPTEMBER 14,…To view the full exhibit click
About RAMCO-GERSHENSON PROPERTIES TRUST (NYSE:RPT)
Ramco-Gershenson Properties Trust is an integrated real estate investment trust. The Company’s primary business is the ownership and management of multi-anchored shopping centers primarily in approximately 10 metropolitan markets in the United States. The Company’s property portfolio includes approximately 70 shopping centers and an office building comprising approximately 15.3 million square feet. The Company primarily conducts its business through its operating partnership, Ramco-Gershenson Properties, L.P. The Company’s properties include Crofton Centre in Maryland; Clinton Pointe, Clinton Valley, Gaines Marketplace, Livonia Plaza, Hoover Eleven and Jackson West in Michigan; Woodbury Lakes in Minnesota; Central Plaza, Deer Creek Shopping Center and Heritage Place in Missouri; Bridgewater Falls, Olentangy Plaza and Rossford Pointe in Ohio, and East Town Plaza, Nagawaukee Center and West Allis Towne Centre in Wisconsin.