Windrose to obtain $70 million loan, expand bank group and extend maturity into 2005

By Sara Rosenberg

New York, Dec. 10 - Windrose Medical Properties Trust said it plans to increase its secured credit facility to up to $70 million from $25 million, expand its bank group to include five banks and extend the term of the facility to September 2005.

In addition to Huntington National Bank, the syndicate includes commitments from Bank One, Fleet Bank, First National Bank and Trust and Raymond James Bank, according to a company news release.

The facility carries an interest rate that can range from Libor plus 200 basis points to Libor plus 225 basis points depending on leverage coverage.

An asset pool will secure the loan, and borrowing availability will depend upon the collateral pool securing the facility.

Windrose will use proceeds for working capital and acquisition purposes.

The facility is expected to close before year-end.

Windrose is an Indianapolis-based self-managed specialty medical properties real estate investment trust.

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