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KTR Lines Up $150M Financing

NEW YORK CITY-The private equity firm says the credit facility is intended to wipe out maturities and boost borrowing capacity.

By Paul Bubny | Updated on January 20, 2010

NEW YORK CITY-KTR Capital Partners said Tuesday it had closed a $150-million financing on behalf of affiliate Keystone Industrial Fund that includes a $15-million revolving feature. The move was intended to wipe out some loan maturities while boosting KIF’s balance sheet, KTR CFO J. Peter Lloyd says in a release.

This three-year term loan was obtained from five major banking institutions, including two new lending relationships for the firm, according to the release. The facility is secured by the private equity firm’s 3.4 million square feet of industrial properties across the US.

“Securing this funding has enabled us to remove four short-term maturities from our debt portfolio while providing extra liquidity to KIF’s balance sheet in the formof additional cash and extra borrowing capacity,” Lloyd says in the release.

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