Capital's revolving credit secured.Capital Trust, Inc. announced that it has closed a $50 million senior unsecured revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility with WestLB AG. The facility has a maximum term of four years (including extension options). The facility will bear interest at LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). + 1.50% and the Company expects to use facility borrowings for general corporate purposes and working capital needs, including providing additional flexibility for funding loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . "This unsecured facility represents an important step in the continuing optimization of our capital structure," said John R. Klopp, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Capital Trust. "A revolving, unsecured credit line provides us with added flexibility to run our business." "WestLB is pleased to provide Capital Trust with this facility on terms which we feel reflect their standing in the market," said Dee Dee Sklar, at WestLB AG. |
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