America First Multifamily Investors, L.P.'s $50 Million Line of Credit Extended and Amended
01 Agosto 2022 - 3:15PM
On July 29, 2022, America First Multifamily Investors, L.P.
(NASDAQ: ATAX) (the “Partnership”) entered into a Second Amendment
to Amended and Restated Credit Agreement (the “Second Amendment”)
with Bankers Trust Company (“Bankers Trust”) which modifies certain
provisions of the Amended and Restated Credit Agreement between the
Partnership and Bankers Trust dated August 23, 2021. The Second
Amendment extends the maturity date of the Partnership’s $50
million secured, non-operating line of credit (the “Line of
Credit”) to June 30, 2024 and provides the Partnership with two
optional one-year extensions, subject to certain conditions and
fees. The Second Amendment also modified, among other things,
certain financial covenants, events of default, and certain
restricted payment provisions to be consistent with the
Partnership’s other secured financing arrangements. The Partnership
also entered into a new Revolving Line of Credit Note which bears
interest at the 1-Month CME Term SOFR Reference Rate, which shall
not be less than 0.10%, plus 2.50%.
“The Second Amendment continues our strong
relationship with Bankers Trust and enhances the functionality of
the Line of Credit for managing our investment acquisitions and
liquidity,” said Kenneth C. Rogozinski, Chief Executive Officer of
the Partnership.
About America First Multifamily
Investors, L.P.
America First Multifamily Investors, L.P. was
formed on April 2, 1998 under the Delaware Revised Uniform Limited
Partnership Act for the primary purpose of acquiring, holding,
selling and otherwise dealing with a portfolio of mortgage revenue
bonds which have been issued to provide construction and/or
permanent financing for affordable multifamily, student housing and
commercial properties. The Partnership is pursuing a business
strategy of acquiring additional mortgage revenue bonds and other
investments on a leveraged basis. The Partnership expects and
believes the interest earned on these mortgage revenue bonds is
excludable from gross income for federal income tax purposes. The
Partnership seeks to achieve its investment growth strategy by
investing in additional mortgage revenue bonds and other
investments as permitted by the Partnership’s Amended and Restated
Limited Partnership Agreement, dated September 15, 2015, taking
advantage of attractive financing structures available in the
securities market, and entering into interest rate risk management
instruments. America First Multifamily Investors, L.P. press
releases are available at www.ataxfund.com.
Safe Harbor Statement
Certain statements in this report are intended
to be covered by the safe harbor for “forward-looking statements”
provided by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements generally can be identified by use
of statements that include, but are not limited to, phrases such as
“believe,” “expect,” “future,” “anticipate,” “intend,” “plan,”
“foresee,” “may,” “should,” “will,” “estimates,” “potential,”
“continue,” or other similar words or phrases. Similarly,
statements that describe objectives, plans, or goals also are
forward-looking statements. Such forward-looking statements involve
inherent risks and uncertainties, many of which are difficult to
predict and are generally beyond the control of the Partnership.
The Partnership cautions readers that a number of important factors
could cause actual results to differ materially from those
expressed in, implied, or projected by such forward-looking
statements. Risks and uncertainties include, but are not limited
to: risks involving current maturities of financing arrangements
and our ability to renew or refinance such maturities, fluctuations
in short-term interest rates, collateral valuations, mortgage
revenue bond investment valuations and overall economic and credit
market conditions; and the other risks detailed in the
Partnership’s SEC filings (including but not limited to, the
Partnership’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K). Readers are urged to
consider these factors carefully in evaluating the forward-looking
statements.
MEDIA CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com
INVESTOR CONTACT:Andy GrierSenior Vice
President402-952-1235
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