REIT Obtains $600M Credit Facility

Liberty Property Trust, a real estate investment trust based in Malvern, Pa., has obtained a new $600 million unsecured revolving credit facility to replace its previous $450 million facility.Borrowings under the four-year facility will bear interest at 65 basis points above the London interbank offered rate, based on the company's current credit rating, the REIT said. The facility was syndicated to a group of 22 U.S. and foreign banks. Bank of America and J.P. Morgan Chase are the co-leaders of the syndicate. The commercial REIT can be found online at http://www.libertyproperty.com.