Senior Housing mulls new revolver or one-year extension period

By Jennifer Chiou

New York, Feb. 5 - Senior Housing Properties Trust is monitoring market conditions for comparable revolving credit facilities or exercising the option to extend its existing revolver, according to a 10-K with the Securities and Exchange Commission.

The company said that its board of trustees has yet to decide on the new revolver or one-year extension.

According to the filing, the company maintains its existing up to $550 million unsecured revolver in order to fund acquisitions and to accommodate cash needs.

As of Dec. 31, the company had $60 million outstanding under the facility, and the weighted average interest rate payable on the revolving credit facility was 1.02%.

It currently has $75 million outstanding under this credit facility, the filing noted.

One year ago, the company planned to repay borrowings under its revolver using proceeds from the sale of 5.5 million common shares

Senior Housing is a Newton, Mass.-based real estate investment trust that primarily invests in senior housing properties.

© 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.