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.
