EPR Properties to repay revolver balance with note offering proceeds

By Tali Rackner

Norfolk, Va., Dec. 7 – EPR Properties plans to repay the outstanding principal balance of its unsecured revolving credit facility with the net proceeds from a new senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of Friday, there was about $290 million of debt outstanding under the revolver, which matures on July 23, 2017, and bears interest at Libor plus 125 basis points.

Remaining net proceeds will used be for general business purposes, which may include funding the company’s ongoing pipeline of acquisition and build-to-suit projects.

The real estate investment trust for entertainment properties is based in Kansas City, Mo.

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