Healthpeak Properties’, an owner, operator and developer of real estate for healthcare discovery and delivery, operating partnership has amended and extended its $3 billion revolving credit facility, as well as made conforming amendments to its outstanding term loans in connection with the credit facility.
“We appreciate the strong support of our lender group who offered to provide over $5 billion of total commitments for this transaction. This successful transaction is a testament to the strength of our balance sheet, and more importantly, supports Healthpeak’s growth initiatives and ongoing commitment to create long-term value for our shareholders,” Peter Scott, chief financial officer, said.
The credit facility will initially mature in January 2029 and can be extended pursuant to two six-month extension options, subject to certain conditions. Based on Healthpeak’s current credit ratings, the credit facility bears interest at a rate per annum equal to SOFR plus 77.5 basis points, and carries a facility fee on the entire revolving commitment of 15 basis points per annum.
The credit facility was arranged by BofA Securities, JPMorgan Chase Bank and Wells Fargo Securities. Bank of America is serving as the Administrative Agent, and JPMorgan Chase Bank and Wells Fargo Bank acted as co-syndication agents for the credit facility. Bank of America and Credit Agricole Corporate and Investment Bank are serving as structuring sustainability agents.
