Health Care REIT, Inc. recently announced the closing of a new, $2 billion unsecured revolving credit facility. The facility, which has a four-year term, replaces a $1.15 billion unsecured revolving credit facility scheduled to mature in August of next year.
The new facility provides the options of an additional one-year extension at the company’s discretion, and expanding the facility by up to an additional $500 million through an accordion feature, for a total possible commitment of up to $2.5 billion.
“The favorable terms and additional capacity of this revolving credit facility enhances our ability to execute on our relationship investment strategy. The steady flow of future investments generated through our existing relationships will be supported by this increased financial flexibility and position us for future growth,” commented George L. Chapman, Health Care REIT’s Chairman, Chief Executive Officer and President. “This new syndicated facility reinforces our relationships with existing banking partners and formalizes new banking relationships.”
Written by Alyssa Gerace