American Realty: Commitments To Raise Under Credit Facilities Up To $2.87 Bln

(RTTNews) - American Realty Capital Properties Inc. (ARCP) said Friday it has received commitments from various lenders to increase aggregate borrowings under its credit facilities up to $2.87 billion and fixed the interest rate on secured acquisition financing, successfully obtaining low-cost property-level debt with an average duration of 9.7 years at a weighted average coupon of 4.70%.

ARCP believes this financing will position it to complete its previously announced acquisitions and fund its organic growth, enabling ARCP to "de-risk" its balance sheet and properly position it for future growth.