Kramont Modifies $125MM LOC

Kramont Realty Trust, Plymouth Meeting, Pa., has reported a modification and extension of its $125 million secured revolving credit facility.The modifications include a reduction in the interest rate margin to a range of 130-175 basis points over the London interbank offered rate from a range of 175-225 bps and an option to increase the amount of the facility to $200 million over the next 24 months, the real estate investment trust said. The maturity was extended two years to Dec. 20, 2007. Banc of America Securities is the sole lead arranger of the facility, and Bank of America is the administrative agent. The equity REIT can be found online at http://www.kramont.com.