EPR Properties borrows $750 million under revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 20 – EPR Properties borrowed $750 million under its $1 billion unsecured revolving credit facility on Friday as a precautionary measure amid uncertainty in global markets, according to a 424B5 filing with the Securities and Exchange Commission.

Prior to the borrowing, the company had no borrowings outstanding under the revolver.

Proceeds may be used for general business or other purposes.

Based on the company’s current debt ratings, the initial interest rate on the borrowings will be Libor plus 100 basis points, equal to 1.92% as of Friday.

The company also has $400 million of term loan borrowings outstanding under the Sept. 27, 2017 credit agreement.

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

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