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Wednesday, 13 October 1999

AMLI Residential Credit Facility Upped to $250 Mln

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October 14, 1999

CHICAGO – AMLI Residential Properties Trust (NYSE:AML) said its bank lending group has increased its unsecured credit line by $50 million to $250 million.

The line, which now matures in October 2002, has an interest rate pegged to Libor plus 105 basis points and carries an annual facility fee of 20 bp.

The bank group includes Wachovia Bank (administrative agent), Bank One (syndication agent), PNC Bank (documentation agent), Harris Trust and Savings Bank (senior managing agent) and Commerzbank AG (managing agent). Other banks in the lending syndicate are LaSalle National Bank, South Trust Bank and Firststar Bank.

Wachovia Securities and Banc One Capital Markets arranged the facility and are joint book runners.

The credit line will be used to fund acquisition and development activities and as working capital.

AMLI owns 56 apartment communities with 21,346 units. It has another 4,938 units under development.


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mortgages/Financing (MOR)
  • Company: AMLI Residential
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