Coresite realty corporation announces amended and expanded credit facility

Coresite realty corporation announced that it has extended its debt maturity profile and expanded its credit facility with total borrowing capacity of $1.15 billion, including all arrangements with its syndicate of banks. coresite has addressed all near-term debt maturities by combining and extending its 2020 and 2021 term loan maturities into a $350 million term loan due in april 2025. this new term loan represents $100 million of incremental borrowing capacity. additionally, the term of coresite’s $450 million revolving credit facility was extended to 2023. the proceeds of the upsized term loan are expected to be used to pay down a portion of the current revolving credit facility balance, fund continued development across coresite’s portfolio, and for general corporate purposes.
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