Navigation Links
BioMed Realty Trust Enters Into New $750 Million Unsecured Revolving Credit Facility
Date:7/19/2011

SAN DIEGO, July 19, 2011 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: 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.

(Logo:  http://photos.prnewswire.com/prnh/20091005/BIOMEDLOGO)

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."

KeyBank National Association served as Administrative Agent and Co-Lead Arranger for the new facility, while Wells Fargo Securities, LLC served as Co-Lead Arranger.  Wells Fargo National Bank Association acted as Syndication Agent, and U.S. Bank National Association acted as Documentation Agent.

About BioMed Realty Trust

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed owns or has interests in 90 properties, representing 152 buildings with approximately 12.6 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, San Diego, Maryland, New York/New Jersey, Pennsylvania and Seattle, which have well-established reputations as centers for scientific research. Additional information is available at www.biomedrealty.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions and developments, and the ability to refinance indebtedness as it comes due; failure to maintain the company's investment grade credit ratings with the ratings agencies; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE BioMed Realty Trust, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Saladax Biomedical, Inc. Announces Appointment of Gregory C. Critchfield, M.D., M.S. as Chairman of the Companys Board of Directors
2. Actinobac Biomed, Inc. Demonstrates In Vivo Efficacy for Psoriasis Treatment
3. 22 of Americas Most Promising Scientists Selected as 2011 Pew Scholars in the Biomedical Sciences
4. The Pittsburgh Life Sciences Greenhouse Announces Innovative Partnership With University of Pittsburgh Biomedical Engineering Society
5. Oxford BioMedica Announces 5T4 Antibody Research Collaboration with ImaginAb
6. Pennington Biomedical Research Center Study Suggests Decreases in U. S. Occupation Energy Levels a Significant Trigger of Obesity Epidemic
7. Saladax Biomedical, Inc. Announces European Commercialization Team
8. USC and Coulter Foundation Partner to Invest $5M in Breakthrough Innovation in Biomedical Engineering
9. Investing in Biomedical Innovation
10. Seattle BioMed Announces Major Scientific Expansion, New Addition to Leadership
11. Larta Institute NIH Success Stories Featured in 2011 California Biomedical Industry Report
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... , Feb. 10, 2016  The Maryland House ... , has announced that University of Maryland School of ... MBA and University of Maryland Medical System President and ... the "Speaker,s Medallion," the highest honor given to the ... Delegates. Dean Reece and Mr. Chrencik ...
(Date:2/10/2016)... , Feb. 10, 2016  Allergan plc (NYSE: ... that Brent Saunders , Allergan,s CEO and President, ... fireside chat session at the RBC Capital Markets Healthcare ... ET at The New York Palace Hotel in ... be webcast live and can be accessed on Allergan,s ...
(Date:2/10/2016)... ... 10, 2016 , ... SonaCare Medical, LLC reports the introduction ... remote monitoring. The inaugural launch of this new technology occurred over the course ... Peretsman to a HIFU technical expert at SonaCare Medical headquarters. , Sonalink ...
(Date:2/10/2016)... ... 2016 , ... Creation Technologies, leading global provider of electronics ... Rating Award from Circuits Assembly , today announced its milestone achievement of ISO ... and China. , The EMS provider, known in the EMS industry for its ...
Breaking Biology Technology:
(Date:2/1/2016)... , Feb. 1, 2016  Today, the first day ... announced plans to develop a first of its kind ... of IBM Watson. In the first application of ... (NYSE: IBM ), and Welltok will create a ... assessments with cognitive analytics, delivered on Welltok,s health optimization ...
(Date:1/28/2016)... Jan. 28, 2016 Synaptics (NASDAQ: SYNA ), a ... its second quarter ended December 31, 2015. ... of fiscal 2016 increased 2 percent compared to the comparable quarter ... of fiscal 2016 was $35.0 million, or $0.93 per diluted share. ... income for the first quarter of fiscal 2016 grew 9 percent ...
(Date:1/25/2016)... BLUE BELL, Pa. , Jan. 25, 2016   Unisys ... facial recognition system at John F. Kennedy (JFK) International Airport, ... and Border Protection (CBP) identify imposters attempting to enter ... or do not belong to them. pilot testing ... rolled out initially at three terminals at JFK during January 2016. ...
Breaking Biology News(10 mins):