Healthcare Trust gets expanded $1.1 billion revolver and term loan

By Susanna Moon

Chicago, Nov. 20 – Healthcare Trust of America, Inc. said it closed a $1.1 billion senior unsecured credit facility, which consists of an $800 million revolving credit facility due January 2020 and a $300 million term loan due January 2019.

The term loan may be extended for up to one year.

Interest on the revolver is initially Libor plus 125 basis points, including a 20 bps facility fee, and the term loan is initially priced at Libor plus 115 bps.

The facility refinances the company’s $950 million credit facility and will lower the company’s borrowing costs and extend maturities, according to a company press release.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and U.S. Bank NA are the joint lead arrangers, with JPMorgan Chase Bank, NA as the administrative agent.

Wells Fargo Bank, NA and U.S. Bank NA are the syndication agents. Bank of Montreal, PNC Bank, Bank of Nova Scotia and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the documentation agents. Capital One, NA, Compass Bank, Fifth Third Bank, Regions Bank, Mizuho Bank, Ltd., Branch Banking & Trust Co. and City National Bank also are lenders.

“The expanded credit facility represents HTA’s commitment to maintaining a strong and flexible balance sheet,” Robert A. Milligan, the company’s chief financial officer, said in the press release.

“It increases liquidity, lowers pricing and extends maturities.”

The real estate investment trust for medical office buildings is based in Scottsdale, Ariz.

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