Structuring REIT Credit Facilities: Loan Terms, Financial Covenants, Commitment Letters, MAC Provisions, and More

A live 90-minute premium CLE webinar with interactive Q&A


Wednesday, October 30, 2019 (in 11 days)

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE webinar will discuss terms and trends in REIT credit facilities, including how to structure the facility, negotiate financial covenants, treat taxable REIT subsidiaries, structure commitment letters, and draft MAC clauses and other key terms.

Description

REITs continue to be active borrowers in the real estate finance market. Due to the growth of REITs and their need for debt financing, real estate lending to REITs continues to grow.

REIT borrowers often receive borrower-favorable terms in credit facilities, particularly concerning financial maintenance covenants. REITS find it easier than other borrowers to achieve lower interest rates and increased extension options.

REIT entities and their business plans have unique characteristics not present in traditional corporate borrowers that counsel for both lenders and REIT borrowers must consider in documenting the loan structure.

Listen as our authoritative panel of real estate finance attorneys analyzes current trends in REIT credit facilities, issues to consider in structuring the facility, and market loan terms--including ever-evolving financial covenants, subsidiaries, terms sheets, and MAC clauses.

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Outline

  1. Structuring the credit facility
  2. Term sheets and commitment letters
  3. Loan terms

Benefits

The panel will review these and other key issues:

  • Legal considerations for structuring the credit facility
  • Use of commitment letters and key issues such as MAC provisions
  • Evolving financial maintenance covenants
  • Key loan document terms needed to satisfy operational and tax concerns of the REIT entity

Faculty

Brooks, Jacqueline
Jacqueline A. Brooks

Partner
Saul Ewing Arnstein & Lehr

Ms. Brooks concentrates her practice in general business and commercial law. She counsels clients in mergers and...  |  Read More

Farley, Richard
Richard E. Farley

Partner
Kramer Levin Naftalis & Frankel

Mr. Farley advises and represents some of the world’s leading commercial and investment banks in sophisticated...  |  Read More

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