Sunstone Closes $200M Credit Facility

Published July 19, 2006, 2:00 p.m. EDT

1 Min Read

Sunstone Hotel Investors Inc., a real estate investment trust based in San Clemente, Calif., has closed a four-year, $200 million unsecured revolving credit facility.The REIT said the facility replaces a $150 million secured revolving facility and bears interest at a spread over the London interbank offered rate that is 25 basis points lower than the previous facility's. 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.

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