Pr announcements.announced That it has closed an amended today

Pr announcements.announced That it has closed an amended today

HCP, Inc. (NYSE: HCP) established today so it has closed an amended and restated credit contract providing for a $2.5 billion revolving that is unsecured facility and a brand new $250 million unsecured term loan center (collectively, the „Credit places“).

The amendment and restatement increased how big is the unsecured revolving credit facility from $2.0 billion to $2.5 billion , extended the readiness date for the unsecured revolving credit facility to might 23, 2023 with two 6-month expansion choices, and paid down HCP’s borrowing expenses. The unsecured revolving credit facility bears interest at a rate per annum equal to LIBOR plus 82.5 basis points and has a facility fee on the entire revolving commitment of 15 basis points per annum, each based on HCP’s current credit ratings as of closing.

In addition, the revolving that is unsecured facility incorporates a sustainability-linked pricing grid that decreases the borrowing spread if certain benchmarks are achieved every year.

The term that is unsecured facility carries a 90-day delayed-draw function, permitting term loans in a aggregate principal amount all the way to $250 million become drawn during such duration. Any term that is such will mature on May 23, 2024 . At the time of closing, the attention rate relevant to the unsecured term loan center could have been an interest rate per year corresponding to LIBOR plus 90 foundation points, considering HCP’s current credit scores. The unsecured term loan facility had been undrawn at closing.

HCP gets the option to increase its borrowing capability underneath the Credit places, at the mercy of customary conditions, by as much as yet another $750 million , for the maximum borrowing capability of $3.5 billion .

„This deal highlights our continued concentrate on enhancing our credit profile by improving liquidity, expanding maturities and reducing borrowing expenses,“ stated Peter Scott , Executive Vice President and Chief Financial Officer. „we have been appreciative of y our banking group with regards to their continued help and almost $4 billion of commitments, in addition to their partnership in advancing HCP’s sustainability efforts.“

The Credit places had been arranged by BofA Securities, Inc. („BofA Securities“), JPMorgan Chase Bank, N.A. („JPMorgan“) and Wells Fargo Securities, LLC. BofA Securities and JPMorgan had been additionally joint bookrunners for the Credit Facilities. Bank of America, N.A. acted as administrative representative and JPMorgan and Wells Fargo Bank, nationwide Association acted as co-syndication agents for the Credit Facilities.

HCP, Inc. is a totally built-in estate that is real trust (REIT) that invests primarily in property serving the healthcare industry in the us. HCP has a large-scale profile diversified across numerous sectors, led by senior housing, life technology and office that is medical. Thought to be a worldwide frontrunner in sustainability, HCP is a publicly-traded company since 1985 and ended up being the initial healthcare REIT chosen to your S&P 500 index. To find out more HCP that is regarding

Andrew Johns Vice President – Finance and Investor Relations(949) 407-0400

For information contact:

CNL Healthcare characteristics, an estate that is real trust (REIT) centered on seniors housing and health care properties, has entered into an understanding for a $250 million term loan, because of the choice of increasing the mortgage as much as $350 million. During the loan’s closing, the business borrowed $260 million. With the loan that is new CNL Healthcare qualities increased its line of credit by $15 million to $245 million. Aided by the brand new term loan therefore the expansion regarding the company’s revolving type of credit, the company’s unsecured credit center totals $680 million and it is expandable to $1.05 billion through accordion features into the associated loan agreements. This total carries a $175 million term loan closed in December 2014.

The credit center, led by KeyBank nationwide Association, SunTrust Bank, JPMorgan Chase Bank, N.A. and Bank of America, N.A., has eight other lenders that are participating Fifth Third Bank, BBVA Compass Bank, The National Huntington Bank, Cadence Bank, Whitney Bank, Comerica Bank, Eastern Bank and Seaside nationwide Bank & Trust.



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