Community Healthcare Trust Incorporated Announces Upsizing and Maturity Extension of $400 Million Senior Unsecured Line of Credit
Community Healthcare Trust Incorporated (NYSE: CHCT) has closed on an amended 5-year $400 million senior unsecured revolving line of credit, significantly increasing its liquidity from the previous $150 million facility. This Refinancing Transaction extends the Company's debt maturity profile, with the next debt maturity not until March 2028. The Company also achieved improved, lower pricing on the Revolving Facility of 10 to 30 basis points depending on the applicable leverage ratio.
The Revolving Facility is supported by 12 financial institutions, with Truist Bank as the Administrative Agent. Proceeds were used to repay the existing $75.0 million A-3 Term Loan, which was scheduled to mature on March 29, 2026. Approximately $123.0 million outstanding under the previous Revolving Facility will remain outstanding under the new facility.
Community Healthcare Trust Incorporated (NYSE: CHCT) ha concluso un finanziamento modificato di 5 anni per un linea di credito revolving senior non garantita da 400 milioni di dollari, aumentando significativamente la sua liquidità rispetto al precedente finanziamento di 150 milioni di dollari. Questa Transazione di Rifinanziamento estende il profilo di scadenza del debito dell'Azienda, con la prossima scadenza del debito non prima di marzo 2028. L'Azienda ha anche ottenuto un miglioramento, con prezzi più bassi sulla linea di credito revolving da 10 a 30 punti base a seconda del rapporto di indebitamento applicabile.
La linea di credito revolving è supportata da 12 istituzioni finanziarie, con Truist Bank come Agente Amministrativo. I proventi sono stati utilizzati per rimborsare il prestito a termine A-3 di 75,0 milioni di dollari esistente, la cui scadenza era prevista per il 29 marzo 2026. Circa 123,0 milioni di dollari rimanenti sotto la precedente linea di credito revolving rimarranno pendenti sotto la nuova struttura.
Community Healthcare Trust Incorporated (NYSE: CHCT) ha cerrado un crédito renovado de 5 años por 400 millones de dólares en una línea de crédito senior no garantizada, aumentando significativamente su liquidez en comparación con la instalación anterior de 150 millones de dólares. Esta Transacción de Refinanciamiento extiende el perfil de vencimiento de la deuda de la Compañía, con el próximo vencimiento de la deuda programado para marzo de 2028. La Compañía también logró mejorar y reducir los precios en la Instalación Revolvente entre 10 y 30 puntos básicos dependiendo de la ratio de apalancamiento aplicable.
La Instalación Revolvente cuenta con el respaldo de 12 instituciones financieras, con Truist Bank como Agente Administrativo. Los fondos se utilizaron para pagar el préstamo a plazo A-3 existente de 75,0 millones de dólares, cuyo vencimiento estaba programado para el 29 de marzo de 2026. Aproximadamente 123,0 millones de dólares pendientes bajo la anterior Instalación Revolvente permanecerán pendientes bajo la nueva instalación.
커뮤니티 헬스케어 트러스트 주식회사 (NYSE: CHCT)는 수정된 5년 4억 달러의 고급 무담보 회전 신용 한도를 체결하였으며, 이전 1억 5천만 달러 시설에서 유동성을 크게 증가시켰습니다. 이 재융자 거래는 회사의 부채 만기 프로파일을 연장하여, 다음 부채 만기는 2028년 3월까지 없습니다. 회사는 또한 적용 가능한 레버리지 비율에 따라 10~30 기본 포인트의 저렴한 가격이 개선되었습니다.
회전 신용 한도는 Truist Bank를 행정 대리인으로 하는 12개의 금융 기관의 지원을 받습니다. 수익금은 2026년 3월 29일 만기가 예정된 기존 7천 5백만 달러 A-3 기한부 대출을 상환하는 데 사용되었습니다. 이전 회전 신용 한도에서 약 1억 2천 3백만 달러 미결제 잔액은 새로운 시설에서도 계속 유지될 것입니다.
Community Healthcare Trust Incorporated (NYSE: CHCT) a finalisé un crédit renouvelable senior non garanti modifié de 5 ans d'un montant de 400 millions de dollars, augmentant significativement sa liquidité par rapport à l'installation précédente de 150 millions de dollars. Cette transaction de refinancement prolonge le profil d'échéance de la dette de l'entreprise, avec la prochaine échéance de la dette prévue pour mars 2028. L'entreprise a également obtenu une réduction des prix sur la ligne de crédit revolving de 10 à 30 points de base, selon le ratio d'endettement applicable.
La ligne de crédit revolving est soutenue par 12 institutions financières, avec Truist Bank comme agent administratif. Les fonds ont été utilisés pour rembourser le prêt à terme A-3 existant de 75 millions de dollars, qui devait arriver à échéance le 29 mars 2026. Environ 123 millions de dollars restants sous l'ancienne ligne de crédit revolving resteront dus sous la nouvelle structure.
Community Healthcare Trust Incorporated (NYSE: CHCT) hat eine modifizierte 5-jährige 400 Millionen Dollar umfassende ungesicherte revolvierende Kreditlinie abgeschlossen, die ihre Liquidität im Vergleich zur vorherigen 150 Millionen Dollar Einrichtung erheblich erhöht. Diese Refinanzierungstransaktion verlängert das Fälligkeitsschema der Schulden des Unternehmens, wobei die nächste Schuldenfälligkeit nicht vor März 2028 ansteht. Das Unternehmen erzielte auch verbesserte, niedrigere Preise für die revolvierende Einrichtung von 10 bis 30 Basispunkten, je nach anwendbarem Verschuldungsgrad.
Die revolvierende Einrichtung wird von 12 Finanzinstituten unterstützt, wobei Truist Bank als Verwaltungsagent fungiert. Die Erlöse wurden verwendet, um den bestehenden A-3-Terminkredit über 75,0 Millionen Dollar, der am 29. März 2026 fällig wäre, zurückzuzahlen. Ungefähr 123,0 Millionen Dollar aus der vorherigen revolvierenden Einrichtung werden unter der neuen Einrichtung weiterhin ausstehen.
- Increased liquidity with $400 million revolving line of credit, up from $150 million
- Extended debt maturity profile, with next maturity in March 2028
- Improved pricing on the Revolving Facility by 10 to 30 basis points
- Repayment of $75 million A-3 Term Loan, reducing near-term debt obligations
- None.
Insights
This refinancing transaction significantly enhances Community Healthcare Trust's financial flexibility and liquidity position. The upsizing of the revolving credit facility from
The maturity extension to 2028 improves the company's debt profile, reducing near-term refinancing risks. Moreover, the 10 to 30 basis point reduction in pricing will lead to lower interest expenses, positively impacting the bottom line. The repayment of the
The continued support from 12 financial institutions, including Truist Bank as the Administrative Agent, indicates strong banking relationships and confidence in CHCT's creditworthiness. The flexibility to choose between SOFR-based and base rate pricing options allows for optimized interest cost management.
Overall, this refinancing strengthens CHCT's balance sheet, potentially improving its ability to pursue acquisitions or development opportunities in the healthcare real estate sector.
This refinancing move by Community Healthcare Trust is a strategic play in the current real estate market environment. With a larger
The extended maturity to 2028 provides long-term stability, important in the real estate sector where capital-intensive investments often require patient capital. The improved pricing terms reflect the company's strong market position and the lenders' confidence in the healthcare real estate niche.
The decision to maintain interest rate swaps on a portion of the borrowings demonstrates prudent risk management, protecting against potential interest rate volatility. This balanced approach to fixed and floating rate debt is particularly important given the current uncertain interest rate environment.
For investors, this refinancing signals CHCT's proactive financial management and positions the company for potential growth in the healthcare property market, which has shown resilience even during economic downturns.
Proceeds from the increased Revolving Facility were used to repay the existing seven-year term loan facility in the aggregate principal amount of
As amended by the Refinancing Transaction, amounts outstanding under the Revolving Facility will bear annual interest at a floating rate that is based, at the Company's option, on either: (i) adjusted term SOFR or adjusted daily simple SOFR (each as defined in the Credit Agreement) plus
About Community Healthcare Trust Incorporated
Community Healthcare Trust Incorporated (the "Company") is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout
Cautionary Note Regarding Forward-Looking Statements
In addition to the historical information contained within, the matters discussed in this press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "believes", "expects", "may", "will," "should", "seeks", "approximately", "intends", "plans", "estimates", "anticipates" or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the "Company"). Thus, the Company's actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, changes in interest rates, supply chain disruptions, labor conditions, the conflicts in
CONTACT Bill Monroe, 615-771-3052
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SOURCE Community Healthcare Trust Incorporated
FAQ
What is the new credit facility amount for Community Healthcare Trust (CHCT)?
How does the new credit facility compare to CHCT's previous facility?
When is CHCT's next debt maturity after this refinancing transaction?
How has the pricing on CHCT's Revolving Facility changed?
