Equity REITs' Revolving Lines
of Credit' is available at www.
The proceeds initially have been utilized to reduce borrowings under the company's revolving lines
of credit; ultimately the proceeds will be used to redeem the remaining $72 million of the company's convertible subordinated notes due Nov.
BACC structures its loans as revolving lines
of credit secured by Accounts Receivable and Inventory, and to complete the package, term loans secured by Machinery and Equipment.
NASDAQ:TTWO) announced today that the revolving lines
of credit it maintains within its Alliance Inventory Management, Inc.
Reynolds, executive vice president and chief financial officer of Health Care Property Investors, commented: "We view the decision by the company's bank group to increase and extend the duration of the revolving lines
of credit in this turbulent market environment as extremely positive.
Under the new revolving lines
of credit, at the company's current senior debt rating of Baa1/BBB+/A- from Moody's Investors Services, Standard and Poor's Rating Group and Duff and Phelps Credit Rating Co.
The net proceeds to the Company from the offering will be used to repay certain indebtedness including revolving lines