Healthcare Realty to repay 2024, 2026 term loans via new notes

By Marisa Wong

Los Angeles, Sept. 18 – Healthcare Realty Trust Inc. plans to make payments under its 2024 term loan, 2026 term loan and unsecured credit facility, using proceeds from an offering of senior notes due 2031, according to a 424B5 filing with the Securities and Exchange Commission.

As of Sept. 15, the company had outstanding indebtedness of $200 million under its 2024 term loan, which bears interest at Libor plus 85 basis points to 165 bps, depending on the company’s debt ratings. The current interest rate is Libor plus 100 bps.

As of Sept. 15, the company had outstanding indebtedness of $150 million under its 2026 term loan, which bears interest at Libor plus 145 bps to 240 bps, based on debt ratings. The current interest rate is Libor plus 160 bps. Amounts repaid on the 2026 term loan through May 31, 2021 are subject to a 1% prepayment premium.

As of Sept. 15, the company had no outstanding debt under its unsecured credit facility. The facility bears interest at Libor plus 77.5 bps to 145 bps, based on ratings, currently 90 bps. In addition, there is a facility fee ranging from 12.5 bps to 30 bps, currently 20 bps.

The company will also use proceeds from the new notes to redeem its 3.75% senior notes due April 15, 2023.

Healthcare Realty is a Nashville-based real estate investment trust focused on real estate used to deliver outpatient health care.

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