Phillips Edison - ARC Shopping Center REIT Inc. on December 18, 2013, through Phillips Edison-ARC Shopping Center Operating Partnership, L.P. entered into an unsecured credit facility that provides aggregate revolving loan borrowings of up to $350 million, initially priced at 130 basis points over LIBOR based on the Company's current leverage ratio. Through an accordion feature and subject to certain conditions, the company may increase availability under the Credit Facility to up to $600 million. At closing, the Credit Facility had no outstanding balance.

The Credit Facility has a four year term, maturing in December 2017 with two 6-month extension options at the company's option, which if exercised by the company, would extend the maturity date to December 2018. The Credit Facility also has a pricing conversion feature, making pricing even more attractive should the company become investment grade. The Credit Facility replaces the company's previous $265 million secured credit facility.