Today's LIBOR Rates
July 28, 2010
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
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March 9, 2010
According to a company press release, Glimcher Real Estate Trust has modified its LIBOR-based credit facility. LIBOR stands for London Interbank Offered Rate and is a filtered average of rates that banks charge each other for short-term, unsecured loans.
The company’s $470 million unsecured credit facility will become a partially secured revolving credit facility at the reduced commitment amount of $370 million. Further staged reductions could place the final commitment at $250 million, with these reductions tied to maturity extensions. Interest rate on the facility is LIBOR plus 400 points (4%) with a 1.5% LIBOR floor, creating an effective minimum rate of 5.5%.