Healthpeak Properties Enhances $3 Billion Credit Facility
Healthpeak Properties, Inc. (NYSE: DOC), a prominent owner, operator, and developer of real estate within the healthcare sector, has recently taken a significant step by amending and extending its revolving credit facility valued at $3 billion. This new arrangement also incorporates conforming amendments to the existing term loans associated with the facility.
Support from Lender Group
In a statement, Peter Scott, the Chief Financial Officer of Healthpeak, expressed appreciation for the robust backing from the company’s lender group. He noted that these lenders were willing to provide over $5 billion in total commitments for this transaction. Scott highlighted that this successful amendment is a clear indication of the strength of Healthpeak's balance sheet, which plays a crucial role in supporting the company’s growth initiatives and ongoing efforts to deliver long-term value for shareholders.
Details of the Credit Facility
The amended credit facility is set to mature initially in January 2029, with provisions for two six-month extension options, contingent on certain conditions being met. According to current credit ratings, the newly structured facility will incur interest at a rate equal to SOFR plus 77.5 basis points, along with a facility fee of 15 basis points per annum applicable to the entire revolving commitment.
Arrangers of the Facility
The credit facility was organized by key financial institutions including BofA Securities, Inc., JPMorgan Chase Bank, N.A., and Wells Fargo Securities, LLC. Bank of America, N.A. is appointed as the Administrative Agent, while JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are acting as Co-Syndication Agents for this significant transaction. Additionally, Bank of America, N.A. and Credit Agricole Corporate and Investment Bank are designated as Structuring Sustainability Agents.
About Healthpeak Properties
Healthpeak Properties, Inc. stands as a fully integrated real estate investment trust (REIT) and is a recognized member of the S&P 500 index. The company focuses on owning, operating, and developing premium real estate in the healthcare sector, which is essential for healthcare discovery and service delivery. For further details about Healthpeak Properties, please visit www.healthpeak.com.
Frequently Asked Questions
What is the amount of the credit facility extended by Healthpeak Properties?
Healthpeak Properties has extended its revolving credit facility to $3 billion.
When will the amended credit facility initially mature?
The amended credit facility is set to mature initially in January 2029.
Who expressed gratitude for the lender support?
Peter Scott, Chief Financial Officer of Healthpeak Properties, expressed appreciation for the lender group.
What does the amendment mean for Healthpeak’s growth?
The amendment supports Healthpeak’s growth initiatives and commitment to create long-term shareholder value.
Who are the lead arrangers for the credit facility?
The lead arrangers for the facility include BofA Securities, JPMorgan Chase Bank, and Wells Fargo Securities.
