Ramco-Gershenson Announces the Pricing of Two Long-Term, Fixed-Rate Unsecured Debt Financings Totali

Ramco-Gershenson Announces the Pricing of Two Long-Term, Fixed-Rate Unsecured Debt Financings Totaling $160 Million

FARMINGTON HILLS, Mich.--(BUSINESS WIRE)-- Ramco-Gershenson Properties Trust ("the Company") today announced the pricing of two long-term, fixed-rate unsecured debt financings totaling $160 million. The new financings have a weighted-average interest rate of 3.87%. Proceeds will be used to pay down balances outstanding under the Company's unsecured revolving line of credit, to pay off maturing mortgage debt, and for general corporate purposes.

"These transactions support our goal of maintaining a strong and flexible balance sheet," said Dennis Gershenson, President and Chief Executive Officer. "As a result of these financings we further extend the maturity of our long-term debt at attractive interest rates while increasing our overall liquidity."

The Company closed a $50 million, 7-year unsecured term loan arranged and funded by Capital One Bank, N.A. An accordion feature provides the Company with the option to borrow up to an additional $25 million under the same loan agreement, subject to customary terms and conditions. The loan is prepayable without penalty after three years. Loan pricing is based upon the Company's leverage. In conjunction with the financing, the Company entered into a 7-year swap agreement, resulting in an interest rate at closing of 3.51%.

The Company also priced a $110 million private placement of senior unsecured notes. The notes are being issued in three tranches with terms of 8, 10, and 12 years. The weighted average interest rate on the notes is 4.04%. The offering is expected to close in June 2013. Deutsche Bank Securities Inc. served as lead bookrunner and KeyBanc Capital Markets Inc. served as passive bookrunner for this transaction.

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^[1]As of March 31, 2013.

About Ramco-Gershenson Properties Trust

Ramco-Gershenson Properties Trust (NYS: RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company's business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States. At March 31, 2013, the Company owned and managed a portfolio of 78 shopping centers and one office building with approximately 14.9 million square feet of gross leasable area owned by the Company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland, and Tennessee. At March 31, 2013, the Company's core operating portfolio was 94.5% leased. For additional information regarding Ramco-Gershenson Properties Trust visit the Company's website at www.rgpt.com.

This press release may contain forward-looking statements that represent the Company's expectations and projections for the future. Management of Ramco-Gershenson believes the expectations reflected in any forward-looking statements made in this press release are based on reasonable assumptions. Certain factors could occur that might cause actual results to vary, including deterioration in national economic conditions, weakening of real estate markets, decreases in the availability of credit, increases in interest rates, adverse changes in the retail industry, our continuing ability to qualify as a REIT and other factors discussed in the Company's reports filed with the Securities and Exchange Commission.

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Ramco-Gershenson Properties Trust
Dawn Hendershot, 248-592-6202
Director of Investor Relations and Corporate Communications

KEYWORDS: United States North America Michigan

INDUSTRY KEYWORDS:

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