Brief: Griffin Industrial Realty Announces New Line Of Credit For Acquisitions

Indus Realty Trust

24/09/2019 21:55

Sept 24 (Reuters) - Griffin Industrial Realty Inc  GRIF.O :
    * GRIFFIN ANNOUNCES NEW LINE OF CREDIT FOR ACQUISITIONS AND
EXTENSION OF REVOLVING CREDIT LINE
    * GRIFFIN INDUSTRIAL REALTY INC -  ENTERED INTO A NEW $15.0
MILLION LINE OF CREDIT WITH WEBSTER BANK
    * GRIFFIN - AMOUNTS BORROWED UNDER ACQUISITION CREDIT LINE
ARE
EXPECTED TO BE REPAID FROM PROCEEDS FROM LONG-TERM FINANCING OF
PROPERTY ACQUIRED
    * GRIFFIN INDUSTRIAL - CREDIT LINE IS UNSECURED, EXPIRES ON
SEPTEMBER 30, 2021, MAY BE USED TO FUND UP TO 65% OF DEAL PRICE
OF REAL ESTATE ACQUISITIONS
    * GRIFFIN - BOTH ACQUISITION CREDIT LINE AND WEBSTER CREDIT
LINE
MAY BE EXTENDED BY GRIFFIN FOR AN ADDITIONAL YEAR THROUGH
SEPTEMBER 30, 2022

Source text for Eikon:  ID:nGNX8pdmzC 
Further company coverage:  GRIF.O 

 ((Reuters.Briefs@thomsonreuters.com;))