Kimco Realty said Kimco OP borrowed an incremental $50 million under Amendment No. 3, bringing total loan principal under the TD Credit Agreement to $550 million.

1. 01

   Kimco Realty said Kimco OP borrowed an incremental $50 million under Amendment No. 3, bringing total loan principal under the TD Credit Agreement to $550 million.

2. 02

   The company said the terms of the New Term Loans are the same as those of the Original Term Loans before Amendment No. 3, and the maturity date is the same. It also said Kimco guaranteed Kimco OP's obligations under the TD Credit Agreement.

3. 03

   Kimco said the amendment added one bank, while the terms, applicable spread, maturity date and financial covenants were not changed. It also said it later entered into an interest rate swap agreement that fixed the rate on the incremental term loan at 4.3175%.

4. 04

   The company said it will use the incremental term loan proceeds for general corporate purposes, including managing debt maturities and opportunistic investments.

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Original filing

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