On Thursday, September 27, 2018, Franklin Street Properties announced the recasting of its existing $220 million unsecured term loan with the Bank of Montreal continuing to serve as Administrative Agent. WilmerHale represented Franklin Street in the recasting, the purpose of which was to decrease the interest margin depending on Franklin Street’s credit rating and separate the existing $220 million term loan into two tranches, where $55 million was allocated to a tranche A loan and $165 million to a tranche B loan.
The WilmerHale team representing Franklin Street was led by Jamie Class and included Tom Ward, Ellie Guadiana and Nick Goodwin. Additional support on the agreement was provided by John Sigel, Julie Hogan Rodgers, J.C. Minko, George Shuster and Rebecca Chang.