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ARP Expands Credit to $500M

PHOENIX—American Residential Properties, Inc. has amended the credit agreement governing its senior secured revolving credit facility, to, among other things, increase the maximum borrowing amount from $380 million to $500 million.

By Kristian Seemeyer | Updated on July 01, 2014

PHOENIX—American Residential Properties, Inc. has amended the credit agreement governing its senior secured revolving credit facility, to, among other things, increase the maximum borrowing amount from $380 million to $500 million. In addition, the amendment agreed to by the lenders increased the size of the accordion feature to a maximum borrowing amount of $750 million. The accordion feature is subject to meeting certain criteria and obtaining additional commitments from lenders Bank of America, N.A., Deutsche Bank AG, New York Branch, Citibank N.A., JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., KeyBank National Association, Barclays Bank PLC, Raymond James Bank, N.A. and Comerica Bank.

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