AMB Property Corp., San Francisco, has announced an early renewal of its unsecured revolving line of credit and an increase in the credit line from $500 million to $550 million.The four-year facility includes a multicurrency component under which up to $550 million can be drawn in U.S. dollars, pounds sterling, euros, or yen, the company said. The pricing for both components is based on the credit rating of AMB's long-term debt. It is currently 42.5 basis points over the applicable index of the London interbank offered rate, compared with 60 bps for the prior facility. AMB, an owner and operator of industrial real estate, can be found online at http://www.amb.com.
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