Healthcare Trust of America and its operating partnership, Healthcare Trust of America Holdings, entered into a third amended and restated $1.3 billion revolving credit and term loan agreement, which consists of a $1 billion revolving credit facility and a $300 million term loan. The credit agreement refinances the firm’s existing $1.3 billion unsecured credit agreement and will lower the company’s borrowing costs and extend maturities.
The credit agreement will mature in October 2025, and the revolver and term loan can each be extended for up to one year. Based on the company’s current investment grade ratings, the revolver will initially be priced at LIBOR plus 105 basis points, inclusive of a 20-basis-point facility fee, and the term loan will initially be priced at LIBOR plus 95 basis points. The credit agreement includes customary LIBOR replacement terms and contains a sustainability-linked feature, which allows for a reduction in pricing upon the company’s realization of certain sustainability ratings.
JPMorgan Chase Bank, Wells Fargo Securities, U.S. Bank, BofA Securities, Capital One and PNC Capital Markets served as joint lead arrangers, with JPMorgan Chase Bank serving as the administrative agent for the facility. Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank and Bank of America served as syndication agents. Bank of Montreal, Bank of Nova Scotia, Fifth Third Bank, Mizuho Bank, Morgan Stanley Senior Funding, MUFG Bank and Regions Bank served as documentation agents. Associated Bank, First Horizon Bank, Hancock Whitney Bank, Huntington National Bank and American Savings Bank also participated.