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Friday January 11, 12:33 PM
Colonial Properties Trust raises credit facility borrowing capacity to $675M

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BOSTON (Thomson Financial) - Colonial Properties Trust said Friday it has raised its revolving borrowing capacity to $675 million via a $175 million addition to its existing unsecured revolving credit facility.

The expanded
credit facility, which matures in June 2012, will provide additional liquidity to be used to fund the company's development pipeline and for general corporate purposes.

As of Jan. 10, Colonial (Madrid: COL.MC - news) had $27 million of borrowings outstanding under this facility.

Shares of the Birmingham, Ala.-based real estate investment trust closed Thursday at $21.75.

Greg Saulnier

gs/pc

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