Business & Finance
Business and Finance
Business and Finance
Wed, July 14, 2010
Tue, July 13, 2010 
SAN DIEGO--([ BUSINESS WIRE ])--Excel Trust, Inc. (NYSE: EXL), a retail focused real estate investment trust (REIT), has closed an unsecured revolving credit facility of up to $125 million arranged by Wells Fargo Securities, LLC and KeyBanc Capital Markets.
"We appreciate the confidence our lenders have placed in us recognizing that it is difficult to obtain an unsecured credit facility in this market"
aWe appreciate the confidence our lenders have placed in us recognizing that it is difficult to obtain an unsecured credit facility in this market,a said Mr. Gary Sabin, Chief Executive Officer of Excel Trust.
Excel Trust has the option of increasing the credit facility to $400 million, subject to lender commitments and other conditions. The term of the facility is three years and can be extended for one year at Excela™s option.
"This unsecured credit facility provides great flexibility and, along with the remaining proceeds from the IPO, will enable our company to capitalize on opportunities to acquire attractive properties in an efficient manner,a said Mr. Jim Nakagawa, Chief Financial Officer.
Participants in the credit facility include Wells Fargo Bank, National Association, KeyBank National Association, PNC Bank, National Association, U.S. Bank National Association, Morgan Stanley Senior Funding, Inc., Barclays Bank PLC, UBS Loan Finance, LLC, and Raymond James Bank, FSB.
About Excel Trust, Inc.
Excel Trust, Inc. is a retail focused REIT that targets community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The Company intends to elect to be treated as a REIT, for U.S. federal income tax purposes, commencing with the taxable year ending December 31, 2010. Excel Trust trades publicly on the NYSE under the symbol "EXL" (NYSE: EXL). For more information on Excel Trust, Inc., please visit [ http://www.exceltrust.com ].
Forward-Looking Statements
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to the Company's expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.
