Americold successfully completes financing

Americold Realty Trust announced that it has successfully issued $322 million of 10-year debt at an average interest rate of 5.35% per annum. Americold also increased its revolving credit facility to $100 million.

The company used a substantial amount of funds received from this financing to refinance a CMBS Pool maturing in 2014 and will use the additional funds under the revolving credit facility for general business purposes.

“The completion of this financing is an important step in Americold’s efforts to continuously improve customer service and expand our logistics network,” said Allison Aden, executive vice-president and chief financial officer of Americold. “Our company remains focused on delivering high-quality service to our valued customers through a diverse offering of temperature-controlled warehouses.”

J P Morgan acted as the sole structuring agent and lender for the debt transaction and served as the administrative agent for the revolving credit facility.

Americold is a provider of temperature-controlled warehousing with the largest network in the United States and properties in Australia, New Zealand, China, Argentina, and Canada. The company’s warehouses are an integral part of the supply chain linking food producers, distributors, and retailers that store products in temperature-controlled warehouses and use related services for frozen and perishable food products.

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