Attached files
file | filename |
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8-K - 8-K - BioMed Realty Trust Inc | c20096e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - BioMed Realty Trust Inc | c20096exv10w1.htm |
EX-10.2 - EXHIBIT 10.2 - BioMed Realty Trust Inc | c20096exv10w2.htm |
EX-10.3 - EXHIBIT 10.3 - BioMed Realty Trust Inc | c20096exv10w3.htm |
EX-10.4 - EXHIBIT 10.4 - BioMed Realty Trust Inc | c20096exv10w4.htm |
Exhibit 99.1
[BioMed Realty Trust, Inc. Logo]
CONTACT: | Rick Howe Director, Corporate Communications (858) 207 5859 |
BIOMED REALTY TRUST ENTERS INTO NEW $750 MILLION UNSECURED REVOLVING
CREDIT FACILITY
CREDIT FACILITY
SAN DIEGO, Calif. July 19, 2011 BioMed Realty Trust, Inc. (NYSE: BMR) announced today that
the company has entered into a new $750 million unsecured revolving credit facility, replacing the
previous unsecured revolving credit facility which had a maturity date of August 1, 2011. The new
facility matures on July 13, 2015, but can be extended for one year to July 13, 2016 at the
companys option. In addition, the terms of the new facility permit BioMed to increase the amount
of the revolving credit commitments to $1.25 billion after satisfying certain conditions. Interest
paid on drawings under the new facility is set at LIBOR plus 155 basis points, subject to
adjustments based on changes to BioMeds credit ratings.
Commenting on the new credit line, Greg Lubushkin, BioMeds Chief Financial Officer, said, We are
pleased with the very efficient execution we were able to achieve in resolving our only significant
consolidated debt maturity over the next three years. We appreciate the continued support of our
lending partners through the transaction. They continue to play a key role in BioMeds ability to
meet the real estate needs of the life science industry and the execution of our proven business
model.
KeyBank National Association served as Administrative Agent and Co-Lead Arranger for the new
facility, while Wells Fargo Securities, LLC served as Co-Lead Arranger. Wells Fargo National Bank
Association acted as Syndication Agent, and U.S. Bank National Association acted as Documentation
Agent.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate
to the Life Science Industry®. The companys tenants primarily include biotechnology and
pharmaceutical companies, scientific research institutions, government agencies and other entities
involved in the life science industry. BioMed owns or has interests in 90 properties, representing
152 buildings with approximately 12.6 million rentable square feet. The companys properties are
located predominantly in the major U.S. life science markets of Boston, San Francisco, San Diego,
Maryland, New York/New Jersey, Pennsylvania and Seattle, which have well-established reputations as
centers for scientific research. Additional information is available at www.biomedrealty.com.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve
risks
and uncertainties that could cause actual outcomes and results to differ materially. These risks
and uncertainties include, without limitation: general risks affecting the real estate industry
(including, without limitation, the inability to enter into or renew leases, dependence on tenents
financial condition, and competition from other developers, owners and operators of real estate);
adverse economic or real estate developments in the life science industry or the companys target
markets; risks associated with the availability and terms of financing, the use of debt to fund
acquisitions and developments, and the ability to refinance indebtedness as it comes due; failure
to maintain the companys investment grade credit ratings with the ratings agencies; failure to
manage effectively the companys growth and expansion into new markets, or to complete or integrate
acquisitions and developments successfully; reductions in asset valuations and related impairment
charges; risks and uncertainties affecting property development and construction; risks associated
with downturns in the national and local economies, increases in interest rates, and volatility in
the securities markets; potential liability for uninsured losses and environmental contamination;
risks associated with the companys potential failure to qualify as a REIT under the Internal
Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and
risks associated with the companys dependence on key personnel whose continued service is not
guaranteed. For a further list and description of such risks and uncertainties, see the reports
filed by the company with the Securities and Exchange Commission, including the companys most
recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any
intention or obligation to update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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