Community Healthcare Trust Incorporated announced on October 16, 2024, the closing of an amended 5-year $400 million senior unsecured revolving line of credit. This new facility significantly increases the company's liquidity compared to the previous $150 million senior unsecured revolving line of credit.
The refinancing transaction extends the company's debt maturity profile, with the next debt maturity now not occurring until March 2028. Additionally, CHCT achieved improved, lower pricing on the Revolving Facility, ranging from 10 to 30 basis points depending on the applicable leverage ratio.
Proceeds from the increased Revolving Facility were used to repay an existing seven-year term loan facility of $75.0 million, which was scheduled to mature on March 29, 2026. Approximately $123.0 million that was outstanding under the previous Revolving Facility remains outstanding under the new terms.
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