Ventas Realty restates facility for $2.75 billion revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, April 24 – Ventas Realty, LP entered into a fourth amended and restated credit agreement on April 24 for a $2.75 billion unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America, NA is administrative agent.

The credit facility replaces the company’s existing $2.75 billion unsecured revolving credit facility.

Aggregate borrowing capacity under the new credit agreement may be increased to up to $3.75 billion by increasing the amount of the revolver or by incurring additional term loans.

The revolver includes sublimits of up to $200 million for letters of credit, up to $1 billion for loans in alternative currencies and up to 50% of the facility for negotiated rate loans.

The revolver matures on April 24, 2028 but may be extended for up to two additional six-month periods.

Borrowings bear interest at SOFR plus a spread ranging from 65 basis points to 140 bps based on Ventas Realty’s senior unsecured long-term debt ratings. The facility fee can range from 10 bps to 30 bps and is also based on Ventas Realty’s debt ratings.

BofA Securities, Inc., JPMorgan Chase Bank, NA and Wells Fargo Securities, LLC are the joint bookrunners and are joined as lead arrangers by Banco Bilbao Vizcaya Argentaria, SA, New York Branch, BNP Paribas, Citibank, NA, Credit Agricole CIB, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, Royal Bank of Canada, Sumitomo Mitsui Banking Corp., TD Securities (USA) LLC, Bank of New York Mellon, Bank of Nova Scotia, Truist Securities, Inc. and UBS Securities LLC.

JPMorgan and Wells Fargo Bank, NA are the syndication agents.

The real estate investment trust for housing and health care properties is based in Chicago.

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