Shearman And Sterling

News June 24, 2019

Sun Communities’ $750 Million Credit Facility

Shearman & Sterling represented Citibank, N.A., as administrative agent, in connection with $750 million in senior financings for Sun Communities Operating Limited Partnership, comprised of a $650 million revolving loan, with the ability to use up to $100 million for advances in Australian dollars, and a $100 million term loan.

Sun Communities is the operating partnership for Sun Communities, Inc., a real estate investment trust that owns and operates or has an interest in 379 manufactured housing and recreational vehicle communities located in the United States and Canada, comprising more than 132,000 developed sites.

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