EPR Properties to repay unsecured revolver borrowings via new notes

By Tali Rackner

Minneapolis, April 9 – EPR Properties plans to reduce the outstanding principal balance of its $1 billion unsecured revolving credit facility using the proceeds from a new senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of Friday, there was $580 million of outstanding debt under the revolver, which matures on Feb. 27, 2022 and has a current interest rate of 2.85%.

EPR said that such application of the proceeds will increase the amounts available under the revolver, which it intends to use for general business purposes, including funding 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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