Medical Properties launches $150 million term at Libor plus 350 bps

By Sara Rosenberg

New York, April 21 - Medical Properties Trust Inc. launched its $150 million term loan on Wednesday with price talk of Libor plus 350 basis points, according to a market source.

The term loan includes a 1.5% Libor floor and is being offered at an original issue discount of 99, the source said.

The company's $450 million credit facility also includes a $300 million revolver.

As of April 12, there was already a total of $230 million in commitments towards the revolver from five lenders.

JPMorgan, KeyBank and RBC are the lead banks on the deal, with JPMorgan the left lead.

Proceeds will be used for general corporate purposes, including the repayment of debt and funding future acquisitions and investments.

Medical Properties is a Birmingham, Ala.-based self-advised real estate investment trust focused on net-leased health care facilities.

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