Healthcare Trust lifts term loan to $200 million, extends to 2023

By Marisa Wong

Morgantown, W.Va., Sept. 29 – Healthcare Trust of America Holdings, LP, the operating subsidiary of Healthcare Trust of America, Inc., amended its senior unsecured term loan facility to increase the amount available, extend the maturity date and adjust pricing, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increased the amount available under the existing facility to $200 million from $155 million and extended the maturity date to Sept. 26, 2023 from July 19, 2019.

The interest rate is now equal to Libor plus 165 basis points, down from Libor plus 170 bps. The margin generally ranges from 150 bps to 245 bps, adjusted from 155 bps to 240 bps, depending on credit ratings.

The parent company was also removed as a guarantor, as long as certain conditions are met. The other existing terms of the credit agreement remained unchanged.

Wells Fargo Bank, NA is the administrative agent with Wells Fargo Securities, LLC, BMO Capital Markets Corp., Capital One, NA and PNC Capital Markets, LLC as joint lead arrangers and joint bookrunners and U.S. Bank NA as documentation agent.

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

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