CLEVELAND-BASED FOREST CITY RECEIVES NEW $500 MILLION REVOLVING CREDIT FACI

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CLEVELAND — Cleveland-based Forest City Enterprises has reached an agreement on a new, 2-year, $500 million revolving credit facility with its 15-member bank group. According to Charles Ratner, the company’s president and CEO, the funds will be used to improve the company’s liquidity and strengthen its financial position. Bob O’Brien provided in-house representation during the agreement proceedings. The transaction is expected to close by the end of the year.

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