Liberty Property Trust Reduces Borrowing Cost With New $500 Million Unsecured Line Facility

Liberty Property Trust (NYSE: LRY) announced today that it has entered into a new $500 million unsecured revolving credit facility maturing November 2, 2015, which replaces its previous $500 million credit line scheduled to mature November 1, 2013.

Based upon the Company's current credit ratings, borrowings under the new facility will bear interest at LIBOR plus 107.5 basis points, with a 20 basis point facility fee. Based on current credit ratings, interest under the previous facility was LIBOR plus 210 basis points, with a 40 basis point facility fee.