NEW YORK--(BUSINESS WIRE)--
Urban Edge Properties (NYSE:UE) announced today an amendment and
extension to its existing unsecured revolving credit facility. The
amendment increased the credit facility size by $100 million to $600
million and extended the maturity date to March 7, 2021 (or, March 7,
2022 if the company exercises both of its six-month extension options).
No amounts are drawn on the existing line of credit.
The joint lead arrangers and joint book-runners are Wells Fargo
Securities, LLC and PNC Capital Markets LLC. Wells Fargo Bank, National
Association will continue to be the administrative agent for the credit
facility and PNC Bank, National Association will continue to be the
syndication agent. Barclays Bank PLC, Capital One, National Association,
Citibank, N.A., JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A.
served as documentation agents. U.S. Bank National Association, Goldman
Sachs Bank USA, Morgan Stanley Bank, N.A., Deutsche Bank AG New York
Branch and TD Bank, N.A. are also participants in the credit facility.
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE listed real estate investment trust
focused on managing, acquiring, developing, and redeveloping retail real
estate in urban communities, primarily in the New York metropolitan
region. Urban Edge owns 86 properties totaling 15.2 million square feet
of gross leasable area.
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Urban Edge Properties
Mark Langer, (212) 956-0082
EVP and
Chief Financial Officer
Source: Urban Edge Properties