Healthcare Trust gets $575 million revolver, $300 million term loan

By Angela McDaniels

Tacoma, Wash., March 29 - Healthcare Trust of America, Inc. entered into a new $875 million credit facility that includes a $575 million revolving credit facility and a $300 million term loan, according to a company news release.

Both facilities mature in March 2016 and can be extended for one 12-month period under certain conditions.

The initial pricing is Libor plus 185 basis points for the term loan and Libor plus 190 basis points for the revolver, which includes a 35 bps facility fee.

The credit facility will replace the company's existing $575 million credit facility due May 2014 and reduced its funded interest cost by 60 bps.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and Deutsche Bank Securities Inc. are the lead arrangers. JPMorgan Chase Bank, NA is the administrative agent. U.S. Bank NA, Fifth Third Bank, Capital One, NA, Regions Bank and Compass Bank are the documentation agents. Bank of Nova Scotia, Sumitomo Mitsui Banking Corp., PNC Bank, NA, City National Bank and First Commercial Bank, New York Branch are managing agents.

Proceeds will be used to fund acquisitions, to repay secured debt and for other corporate purposes.

Healthcare Trust of America is a real estate investment trust based in Scottsdale, Ariz.

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