BioMed Realty Trust Enters Into New $750 Million Unsecured Revolving Credit Facility

BioMed Realty Trust, Inc. BMR announced today that the company has entered into a new $750 million unsecured revolving credit facility, replacing the previous unsecured revolving credit facility which had a maturity date of August 1, 2011. The new facility matures on July 13, 2015, but can be extended for one year to July 13, 2016 at the company's option. In addition, the terms of the new facility permit BioMed to increase the amount of the revolving credit commitments to $1.25 billion after satisfying certain conditions. Interest paid on drawings under the new facility is set at LIBOR plus 155 basis points, subject to adjustments based on changes to BioMed's credit ratings. Commenting on the new credit line, Greg Lubushkin, BioMed's Chief Financial Officer, said, "We are pleased with the very efficient execution we were able to achieve in resolving our only significant consolidated debt maturity over the next three years. We appreciate the continued support of our lending partners through the transaction. They continue to play a key role in BioMed's ability to meet the real estate needs of the life science industry and the execution of our proven business model."