Camden Property Trust, a Houston-based real estate investment trust, has closed a $500 million unsecured term loan facility with an interest rate of 50 basis points above the London interbank offered rate.The multifamily REIT said the three-year credit facility may be extended at the company's option for two one-year periods. Banc of America Securities LLC and J.P. Morgan Securities Inc. served as the joint lead arrangers and joint bookrunners for the offering. Camden said it also entered into an interest rate swap with JPMorgan Chase Bank NA and Bank of America NA under which the LIBOR interest rate of the credit agreement is fixed for five years at 4.74% per year. Camden can be found on the Web at http://www.camdenliving.com.
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