EPR Properties Announces New $1.0 Billion Revolving Credit Facility
EPR Properties (NYSE: EPR) has announced a new $1.0 billion unsecured revolving credit facility, replacing its existing facility and maturing on October 2, 2028. The new facility includes an 'accordion' feature that allows for a potential increase to $2.0 billion, subject to lender consent. Key improvements include:
1. Generally reduced interest rates on outstanding loans
2. Elimination of the tangible net worth covenant
3. Modified secured debt to total asset value covenant
4. Simplified asset valuation method
The facility offers two six-month extension options and is expected to be used for general business purposes, including acquiring experiential properties. EPR's President and CEO, Greg Silvers, stated that the new facility provides enhanced borrowing flexibility and more favorable terms, strengthening the company's financial foundation.
EPR Properties (NYSE: EPR) ha annunciato una nuova linea di credito revolving non garantita da 1,0 miliardi di dollari, che sostituisce la sua attuale struttura e scadrà il 2 ottobre 2028. La nuova linea include una funzionalità 'accordion' che consente un possibile aumento a 2,0 miliardi di dollari, soggetto al consenso dei creditori. I principali miglioramenti includono:
1. Tassi di interesse generalmente ridotti sui prestiti in essere
2. Eliminazione del vincolo sul patrimonio netto tangibile
3. Modifica del vincolo del debito garantito rispetto al valore totale degli attivi
4. Metodo di valutazione degli attivi semplificato
La linea offre due opzioni di estensione di sei mesi ed è prevista per essere utilizzata per scopi aziendali generali, inclusa l'acquisizione di proprietà esperienziali. Il presidente e CEO di EPR, Greg Silvers, ha dichiarato che la nuova struttura offre una maggiore flessibilità di prestito e condizioni più favorevoli, rafforzando le basi finanziarie dell'azienda.
EPR Properties (NYSE: EPR) ha anunciado una nueva línea de crédito revolving no asegurada de 1.0 mil millones de dólares, que reemplaza su instalación existente y vencerá el 2 de octubre de 2028. La nueva línea incluye una característica de 'acordeón' que permite un posible aumento a 2.0 mil millones de dólares, sujeto al consentimiento del prestamista. Las mejoras clave incluyen:
1. Tasas de interés generalmente reducidas sobre los préstamos pendientes
2. Eliminación del convenio de patrimonio neto tangible
3. Modificación del convenio de deuda garantizada respecto al valor total de los activos
4. Método de valoración de activos simplificado
La instalación ofrece dos opciones de extensión de seis meses y se espera que se utilice para fines comerciales generales, incluida la adquisición de propiedades experienciales. El presidente y CEO de EPR, Greg Silvers, declaró que la nueva línea proporciona una mayor flexibilidad de endeudamiento y condiciones más favorables, fortaleciendo la base financiera de la empresa.
EPR Properties (NYSE: EPR)는 기존 시설을 대체하는 10억 달러 규모의 무담보 리볼빙 신용 시설을 발표했으며, 2028년 10월 2일 만료됩니다. 새로운 시설에는 대출자의 동의에 따라 20억 달러로 증가할 수 있는 '어코디언' 기능이 포함되어 있습니다. 주요 개선 사항은 다음과 같습니다:
1. 미지급 대출에 대한 대출 금리 일반적으로 인하
2. 유동 자산에 대한 순자산 약정의 삭제
3. 총 자산 가치 대비 담보 부채 약정의 수정
4. 자산 평가 방법 간소화
이 시설은 두 번의 6개월 연장 옵션을 제공하며, 일반 비즈니스 목적, 특히 체험형 자산 인수를 위한 용도로 사용될 것으로 예상됩니다. EPR의 회장 겸 CEO인 Greg Silvers는 새로운 시설이 더 나은 차입 유연성과 유리한 조건을 제공하여 회사의 재무 기반을 강화한다고 밝혔습니다.
EPR Properties (NYSE: EPR) a annoncé une nouvelle ligne de crédit revolving non sécurisée de 1,0 milliard de dollars, remplaçant son installation actuelle et arrivant à échéance le 2 octobre 2028. La nouvelle ligne comprend une fonctionnalité 'accordéon' qui permet une augmentation potentielle à 2,0 milliards de dollars, sous réserve de l'accord des créanciers. Les principales améliorations comprennent :
1. Taux d'intérêt généralement réduits sur les prêts en cours
2. Suppression de l'engagement de valeur nette tangible
3. Modification de l'engagement de la dette garantie par rapport à la valeur totale des actifs
4. Méthode d'évaluation des actifs simplifiée
La ligne offre deux options d'extension de six mois et devrait être utilisée à des fins commerciales générales, y compris l'acquisition de propriétés expérientielles. Greg Silvers, président et CEO d'EPR, a déclaré que la nouvelle ligne offre une flexibilité d'emprunt améliorée et des conditions plus favorables, renforçant la base financière de l'entreprise.
EPR Properties (NYSE: EPR) hat eine neue unbesicherte revolvierende Kreditlinie über 1,0 Milliarden USD angekündigt, die die bestehende Kreditlinie ersetzt und am 2. Oktober 2028 fällig wird. Die neue Kreditlinie umfasst ein 'Accordion'-Merkmal, das eine mögliche Erhöhung auf 2,0 Milliarden USD ermöglicht, vorbehaltlich der Zustimmung des Kreditgebers. Wichtige Verbesserungen umfassen:
1. Allgemein reduzierte Zinssätze für ausstehende Kredite
2. Eliminierung der Vereinbarung zum materiellen Nettovermögen
3. Modifizierung der Vereinbarung über gesicherte Schulden im Verhältnis zum Gesamtwert der Vermögenswerte
4. Vereinfachte Methode zur Vermögensbewertung
Die Kreditlinie bietet zwei Verlängerungsoptionen von jeweils sechs Monaten und wird voraussichtlich für allgemeine geschäftliche Zwecke, einschließlich der Akquisition von Erlebnisimmobilien, genutzt. EPR-Präsident und CEO Greg Silvers erklärte, dass die neue Kreditlinie eine verbesserte Kreditaufnahme-Flexibilität und vorteilhaftere Bedingungen bietet, was die finanzielle Basis des Unternehmens stärkt.
- New $1.0 billion unsecured revolving credit facility with potential to increase to $2.0 billion
- Generally reduced interest rates on outstanding loans
- Extended maturity date to October 2, 2028 with two additional six-month extension options
- Elimination of tangible net worth covenant
- Modified secured debt to total asset value covenant allowing for additional secured debt if needed
- Simplified asset valuation method under the facility
- None.
The Company expects to use borrowings under the new facility for general business purposes, including the acquisition of experiential properties consistent with its current strategy. “We are pleased to announce the completion of this new credit facility, which provides us with enhanced borrowing flexibility and more favorable terms,” stated Greg Silvers, President and CEO of EPR Properties. “This facility strengthens our financial foundation as we invest in experiential properties and demonstrates the confidence of our bank group in our long-term strategy.”
About EPR Properties
EPR Properties is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out-of-home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have total assets of approximately
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
With the exception of historical information, certain statements contained herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), such as those pertaining to our capital resources and liquidity, our borrowing availability, our pursuit of growth opportunities, and our financial condition. The forward-looking statements presented herein are based on the Company's current expectations. Forward-looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of actual events. There is no assurance that the events or circumstances reflected in the forward-looking statements will occur. You can identify forward-looking statements by use of words such as “will be,” “intend,” “continue,” “believe,” “may,” “expect,” “hope,” “anticipate,” “goal,” “forecast,” “pipeline,” “estimates,” “offers,” “plans,” “would” or other similar expressions or other comparable terms or discussions of strategy, plans or intentions contained herein. Forward-looking statements necessarily are dependent on assumptions, data or methods that may be incorrect or imprecise. These forward-looking statements represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Many of the factors that will determine these items are beyond our ability to control or predict. For further discussion of these factors see “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and, to the extent applicable, our Quarterly Reports on Form 10-Q.
For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date hereof. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except as required by law, we do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date hereof.
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EPR Properties
Brian Moriarty, (816) 472-1700
Senior Vice President - Corporate Communications
brianm@eprkc.com
Source: EPR Properties
FAQ
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