Ventas, Inc. (NYSE: VTR) announced last week that it closed on a commitment for $50 million of additional credit capacity under its Revolving Credit Facilities to mature in 2012. The additional commitment comes from a financial institution that will join Ventas’s bank group as a new lender. Upon closing of the additional commitment, the Ventas’s Revolving Credit Facilities were expanded to $1.0 billion. The first portion of the Revolving Credit Facilities, maturing April 26, 2012, contains $765 million of borrowing capacity, and the second portion of the Revolving Credit Facilities, maturing April 26, 2010, contains $232 million of borrowing capacity.
“We continue to build liquidity and financial flexibility to serve our stakeholders’ interests,” Ventas Chairman, President and Chief Executive Officer Debra A. Cafaro said. “We appreciate the strong support Ventas has received from our existing bank group and new lenders. Their investment in our business will enable Ventas to grow and remain financially strong.”