PHILADELPHIA-Plymouth Meeting, PA-based Brandywine Realty Trust has obtained a $100-million term loan from members of its existing bank group. The loans bear interest at a spread over the one-, two-, three-, or six-month LIBOR that varies between 140 and 190 basis points, based on the company’s leverage ratio.

Proceeds will be used to repay other indebtedness, as well as make some of Brandywine’s existing $500-million revolving credit facility available. The loan was not secured by any of the company’s assets. It matures in three years, but Brandywine can elect two one-year extensions if certain, unspecified conditions are met at that time. There are no scheduled principal payments due prior to maturity.

Charlotte, NC-based Bank of America, N.A. is the administrative agent for the loan, with the New York and Grand Cayman branches of Frankfurt, Germany-based Commerzbank AG, and the locally based Fleet National Bank, a FleetBoston subsidiary, as co-documentation agents.

Bank of America Securities LLC was sole lead arranger and book manager of the term loan.

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