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Home>Phillips Edison Grocery Center REIT II Closes New Seven-Year, $200 Million Unsecured Term Loan Facility

Phillips Edison Grocery Center REIT II Closes New Seven-Year, $200 Million Unsecured Term Loan Facility

Phillips Edison Grocery Center REIT II Closes New Seven-Year, $200 Million Unsecured Term Loan Facility

09/30/2017

Phillips Edison Grocery Center REIT II Closes New Seven-Year, $200 Million Unsecured Term Loan Facility

Phillips Edison Grocery Center REIT II, Inc. (the “Company”) and Phillips Edison Grocery Center Operating Partnership II, L.P. (the “Operating Partnership”) have closed on a new seven-year, $200 million unsecured term loan facility.

The facility lenders include Capital One, N.A as Administrative Agent, Fifth Third Bank, U.S. Bank, N.A., Regions Bank as Co-Syndication Agents, as well as Associated Bank, N.A., First Tennessee Bank, N.A., First Merchants Bank and First Financial Business Capital.

Proceeds from the term loan will be used to pay down the Company’s revolving line of credit, as well as for general corporate purposes. The loan will bear interest at LIBOR plus 1.70% to 2.55% (the “Eurodollar Rate”) depending upon the company’s leverage ratio.

“We are pleased to announce the closing of this seven-year unsecured term loan,” said Devin Murphy, Chief Financial Officer of Phillips Edison Grocery Center REIT II. “The loan is a strategic component of our capital structure that enhances our liquidity profile while adding incremental term to our debt structure at an attractive cost. We continue to focus on maintaining a low risk, high quality balance sheet and want to thank our lending partners for their continued support.”

About Phillips Edison Grocery Center REIT II, Inc.

Phillips Edison Grocery Center REIT II, Inc. is a public non-traded REIT that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. As of June 30, 2017, the company owned and managed an institutional quality retail portfolio consisting of 80 grocery-anchored shopping centers totaling approximately 9.8 million square feet. For more information, please visit the company website at www.grocerycenterREIT2.com.

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