Wells Fargo amends and restates existing revolving facility for real estate investment trust and provides term loan facility

Client(s) Wells Fargo Bank, National Association

Jones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the amendment and restatement of an existing revolving facility provided to a real estate investment trust focused on acquiring, renovating, leasing, and operating single-family homes as rental properties, and an additional term loan facility. The facility consisted of a $400 million revolving credit facility, which will include an up to $60 million swingline subfacility and an up to $25 million letter of credit subfacility; a 5-year delayed draw term loan facility in the amount of up $550 million; and a new 7-year delayed draw term loan facility in the amount of up to $350 million.