Commercial Net Lease Realty Inc., an equity real estate investment trust based in Orlando, Fla., has increased its $225 million unsecured credit facility to $300 million and extended its maturity to May 2009.In addition, the facility's interest rate was reduced from 100 basis points over the London interbank offered rate to LIBOR plus 80 bps, the REIT said. The facility also contains a competitive bid option for up to 50% of the amount. Wachovia Securities was the sole lead arranger and book manager of the facility. The REIT can be found online at http://www.cnlreit.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
April 19 -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
April 19 -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18