Wire
Strawberry Fields REIT Closes $300 Million Corporate Credit Facility
Strawberry Fields REIT (STRW) said Monday it closed a corporate credit agreement that provides up to $300 million in available funding.A company unit secured a $200 million revolving credit line alongside a $100 million term loan provided by Popular Bank, the company said.Both debt arrangements mature in June 2029 and feature an interest rate matching the greater of 5.50% or the one-month term secured overnight financing rate plus 275 basis points, Strawberry Fields REIT said.The business plans to use the funds to refinance existing bank debt, support asset acquisitions, and cover general working capital needs, it said.Price: $13.32, Change: $-0.05, Percent Change: -0.37%
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