Medical Properties Trust to get $250 million unsecured revolver

By Sara Rosenberg

New York, April 12 - Medical Properties Trust Inc. plans on getting a new $250 million unsecured revolving credit facility, according to a news release.

The deal is being done in connection with a $450 million senior notes offering.

Proceeds from the notes will be used to repay the company's $150 million term loan, revolver borrowings and a $9 million term loan collateralized by a rehabilitation hospital in Wichita, Kan., and for general business purposes, which may include investment opportunities and debt reduction.

The new revolver is being done through an amendment to the company's existing credit facility.

At close, the revolver is expected to have availability of up to $225.8 million after giving effect to borrowing base capacity and outstanding letters of credit.

Completion of the notes and the credit facility amendment are conditioned on each other.

Medical Properties Trust is a Birmingham, Ala.-based real estate investment trust that acquires, develops, and invests in health care facilities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.