Lessor Awas has increased the size of its unsecured revolving credit facility to $435 million due to strong syndication feedback.

The facility initially had a $300 million but was increased to $425 million in April before receiving another boost this week.

Commitments for the facility have been sourced from 12 lenders, including six new lenders for Awas.

The transaction was supported by commitments from four joint-lead arrangers: Royal Bank of Scotland, RBC Capital Markets, DBS Bank and BNP Paribas.

The facility will have a three-year term with pricing at Libor plus 225bp.

Awas has a BB+ corporate credit rating, reported a $77.4 million first quarter profit, and is presently contemplating either a public or private share sale.