Rouse Obtains New, Expanded LOC

The Rouse Co., Columbia, Md., has announced a new unsecured revolving credit facility that expands its line of credit from $450 million to $900 million.The three-year facility, which includes an option to renew for a fourth year, carries an interest rate of 90 basis points over the London interbank offered rate, a reduction of 10 bps from the rate on the old facility, the real estate development firm said. The facility also contains a competitive bid option (for up to half the total availability) that allows the company to hold auctions for lower pricing on short-term borrowings, Rouse said. The joint bookrunners and joint lead arrangers of the facility are J.P. Morgan Securities and Deutsche Bank Securities. Rouse can be found online at http://www.therousecompany.com.