Healthcare Realty repays revolver via $200 million five-year term loan

By Susanna Moon

Chicago, Feb. 28 - Healthcare Realty Trust Inc. obtained a $200 million five-year senior unsecured term loan facility, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loan is currently Libor plus 145 basis points, with a spread of Libor plus 100 bps to 195 bps, based on the company's credit ratings.

The company entered into the term loan agreement Thursday with Wells Fargo Securities, LLC and PNC Capital Markets LLC as the joint lead arrangers and joint bookrunners.

Wells Fargo Bank, NA is the administrative agent; PNC Bank, NA is the syndication agent; U.S. Bank NA, Fifth Third Bank and Branch Banking and Trust Co. are the co-documentation agents; and lenders also include Bank of Montreal - Chicago Branch, Regions Bank, First Tennessee Bank, NA and Pinnacle National Bank.

Proceeds were used by the company to repay borrowings on its unsecured revolving credit facility due 2017 with Wells Fargo Bank, NA as administrative agent.

Payments under the term loan are interest only, with the full amount of the principal due at maturity. The term loan may be prepaid at any time without penalty.

Healthcare Realty is a Nashville-based a real estate investment trust that integrates owning, managing and developing properties associated primarily with outpatient health care services.

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