International Market Centers has refinanced its senior secured debt and revolving credit facility in the amount of $610 million.
The new financing will reduce the company’s cost of capital, extend debt maturities and give the company enhanced financial flexibility, IMC stated. Citigroup Global Markets and Bank of America Merrill Lynch led the transaction.
“This refinancing provides long-term, stable financing which, combined with the continued strong support of our sponsors, enables us to continue to deliver compelling markets for our buyers and manufacturers,” said Robert Maricich, IMC CEO. “Importantly, this transaction is a reflection of the excellent growth and financial success we have achieved in both High Point and Las Vegas, and demonstrates the confidence of the broader financial community in the value of our assets and the growth embodied in our strategic plan.”
IMC operates the World Market Center in Las Vegas and key market buildings in High Point, NC.