Reckson Associates Realty Corp., Melville, N.Y., has announced that its operating partnership, Reckson Operating Partnership LP, has refinanced its $500 million unsecured revolving credit facility with a group of 14 banks.The three-year facility includes options for a one-year extension and for expansion to $750 million upon receiving additional lender commitments, Reckson Associates said. It bears interest at 90 basis points over the London interbank offered rate, a reduction of 15 bps from the previous facility's rate. J.P. Morgan Securities Inc. and Salomon Smith Barney Inc. were the co-lead arrangers and joint bookrunners. Reckson Associates, a real estate investment trust, can be found online at http://www.reckson.com.
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