AMB Property renews and expands $600M credit line

Industrial property owner AMB Property Corp. said Friday that it renewed and expanded a $600 million senior unsecured revolving line of credit.

Multiple types of currency can be withdrawn under the new four-year credit facility. The line of credit matures in March 2014 and can be extended by one year and increased to $800 million within the next 30 months.

The real estate investment trust said the facility gives it more liquidity for its growth plans.

Shares of AMB fell 35 cents to $29.53 in late morning trading.