Senior Housing Properties Trust Amends $1 Billion Credit Facility and $200 Million Unsecured Term Loan
SENIOR HOUSING PROPERTIES (SNH)
Last senior housing properties earnings: 11/7 07:00 am
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US:NYSE Investor Relations:
snhreit.com/investors/default.aspx
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Source: Business Wire
NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust (Nasdaq: SNH) today announced that it has amended its existing $1 billion unsecured revolving credit facility and simultaneously amended its $200 million unsecured term loan that matures in 2022. Prior to the amendment, SNH’s credit facility had a maturity date of January 15, 2018 and required interest on drawings at LIBOR plus 130 basis points, subject to adjustments based on changes to SNH’s credit ratings. The maturity date of the amended credit facility is extended to January 15, 2022 and interest on drawings is reduced to LIBOR plus 120 basis points, subject to adjustments based on changes to SNH’s credit ratings. In addition, the facility fee was reduced from 30 basis points to 25 basis points per annum on the total amount of lending commitments. The amended credit facility includes a borrower’s option to further extend the fa
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