Sunstone Hotel Investors Inc., a real estate investment trust based in San Clemente, Calif., has amended its $200 million unsecured revolving credit facility to reduce the pricing and extend its maturity.The REIT said the facility now bears interest based on grid pricing that is 25-35 basis points lower than the previous facility's. The initial maturity was extended to 2011. Subject to certain conditions, the maturity may be extended for one year and the commitment increased to $300 million, Sunstone reported. The joint lead arrangers and joint book-running managers of the facility were Citicorp North America Inc. and Wachovia Capital Markets LLC. The REIT can be found online at http://www.sunstonehotels.com.
Sunstone Amends $200M Credit Facility
May 25, 2007, 2:00 p.m. EDT 1 Min Read
