HRPT Properties Trust, Newton, Mass., has announced that it has increased its revolving bank credit facility from $560 million to $750 million and extended its maturity.The facility contains a feature that permits it to be expanded to as much as $1.5 billion under certain circumstances, the company said. The maturity of the facility was extended three years, to April 28, 2009, with an option to extend it an additional year. The facility's interest rate was reduced from 80 basis points above the London interbank offered rate to LIBOR plus 65 bps. Wachovia Securities acted as the lead arranger for the changes to the facility, which is being provided by a 32-member bank syndicate. HRPT, a real estate investment trust, can be found on the Internet at http://www.hrpreit.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
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The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
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Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11