Welltower Announces Upsizing and Maturity Extension of $5.0 Billion Senior Unsecured Line of Credit
Welltower Inc. (NYSE: WELL) has closed on an amended $5.0 billion senior unsecured revolving line of credit, strengthening its liquidity position and extending its debt maturity profile. The facility includes a $3.0 billion tranche maturing in 2028 and a $2.0 billion tranche maturing in 2029. This follows recent positive credit rating outlook revisions by S&P Global and Moody's. The new facility offers improved pricing, with loans currently bearing interest at 72.5 basis points over the adjusted SOFR rate and an annual facility fee of 12.5 basis points. Welltower's total available credit facilities now reach approximately $7.5 billion, positioning the company for continued growth and disciplined capital allocation.
Welltower Inc. (NYSE: WELL) ha concluso un nuovo accordo per una linea di credito revolving non garantita da 5,0 miliardi di dollari, rafforzando la sua posizione di liquidità e prolungando il profilo di scadenza del debito. La struttura include una tranche da 3,0 miliardi di dollari che scade nel 2028 e una tranche da 2,0 miliardi di dollari che scade nel 2029. Questo arriva dopo recenti revisioni positive delle prospettive di rating creditizio da parte di S&P Global e Moody's. La nuova struttura offre una tariffa competitiva, con prestiti che attualmente hanno un interesse di 72,5 punti base sopra il tasso SOFR rettificato e una commissione annuale per la struttura di 12,5 punti base. Le linee di credito totali disponibili di Welltower raggiungono ora circa 7,5 miliardi di dollari, posizionando l'azienda per una continua crescita e un'allocazione disciplinata del capitale.
Welltower Inc. (NYSE: WELL) ha cerrado un acuerdo modificado por una línea de crédito revolving no garantizada de 5.0 mil millones de dólares, fortaleciendo su posición de liquidez y extendiendo su perfil de vencimiento de deuda. La instalación incluye un tramo de 3.0 mil millones de dólares que vence en 2028 y un tramo de 2.0 mil millones de dólares que vence en 2029. Esto sigue a revisiones recientes de las previsiones de calificación crediticia positivas por parte de S&P Global y Moody's. La nueva instalación ofrece precios mejorados, con préstamos que actualmente devengan intereses de 72.5 puntos básicos sobre la tasa SOFR ajustada y una tarifa anual de la instalación de 12.5 puntos básicos. Las líneas de crédito disponibles totales de Welltower ahora alcanzan aproximadamente 7.5 mil millones de dólares, posicionando a la empresa para un crecimiento continuo y una asignación disciplinada de capital.
웰타워 Inc. (NYSE: WELL)는 50억 달러 규모의 비담보 회전 신용시설 계약을 마무리하며 유동성 위치를 강화하고 채무 만기 프로필을 연장했습니다. 이 시설에는 2028년에 만기가 오는 30억 달러의 트랜치와 2029년에 만기가 오는 20억 달러의 트랜치가 포함되어 있습니다. 이는 S&P Global과 무디스의 최근 긍정적인 신용 등급 전망 수정에 따른 것입니다. 새로운 시설은 개선된 가격을 제공하며, 현재 대출 이자는 조정된 SOFR 금리보다 72.5 베이시스 포인트 높고 연회비는 12.5 베이시스 포인트입니다. 웰타워의 총 가용 신용 한도는 현재 약 75억 달러에 달하며, 이는 지속적인 성장과 자본 배분의 무질서를 가능하게 합니다.
Welltower Inc. (NYSE: WELL) a finalisé un contrat modifié pour une ligne de crédit revolving non garantie de 5,0 milliards de dollars, renforçant ainsi sa position de liquidité et prolongeant le profil de maturité de sa dette. L'installation comprend une tranche de 3,0 milliards de dollars arrivant à échéance en 2028 et une tranche de 2,0 milliards de dollars arrivant à échéance en 2029. Cela fait suite à de révisions récentes des perspectives de notation de crédit positives par S&P Global et Moody's. La nouvelle installation propose des conditions améliorées, avec des prêts dont les intérêts sont actuellement de 72,5 points de base au-dessus du taux SOFR ajusté et des frais annuels de 12,5 points de base. Les lignes de crédit disponibles de Welltower s'élèvent désormais à environ 7,5 milliards de dollars, positionnant l'entreprise pour une croissance continue et une allocation disciplinée du capital.
Welltower Inc. (NYSE: WELL) hat eine geänderte Kreditlinie über 5,0 Milliarden USD abgeschlossen, die ihre Liquiditätsposition stärkt und das Fälligkeitsprofil der Schulden verlängert. Die Facility umfasst eine Tranche von 3.0 Milliarden USD, die 2028 fällig wird und eine Tranche von 2,0 Milliarden USD, die 2029 fällig wird. Dies folgt auf die jüngsten positiven Änderungen der Kreditwürdigkeitsausblicke von S&P Global und Moody's. Die neue Facility bietet verbesserte Konditionen, wobei Kredite derzeit 72,5 Basispunkte über dem angepassten SOFR-Satz verzinst werden und eine jährliche Facility-Gebühr von 12,5 Basispunkten anfällt. Die insgesamt verfügbaren Kreditlinien von Welltower belaufen sich nun auf etwa 7,5 Milliarden USD, was das Unternehmen für kontinuierliches Wachstum und eine disziplinierte Kapitalallokation positioniert.
- Upsized revolving credit facility to $5.0 billion, improving liquidity
- Extended debt maturity profile to 2028 and 2029
- Improved pricing on the new credit facility
- Positive credit rating outlook revisions from S&P Global and Moody's
- Increased total available credit facilities to approximately $7.5 billion
- Option to extend facility maturity for two successive six-month terms
- Ability to upsize credit facilities by an additional $1.25 billion on an uncommitted basis
- None.
Insights
Welltower's successful upsizing and extension of its
Key points to consider:
- Improved Liquidity: The upsized facility provides Welltower with enhanced financial flexibility, allowing it to pursue growth opportunities and navigate market uncertainties.
- Extended Maturity Profile: The new facility extends the debt maturity dates to 2028 and 2029, reducing refinancing risk and improving the company's debt structure.
- Favorable Pricing: With an interest rate of 72.5 basis points over the adjusted SOFR rate and an annual facility fee of 12.5 basis points, Welltower has secured competitive terms, reflecting its strong credit profile.
- Sustainability Link: The incorporation of greenhouse gas emission reduction targets into the pricing structure aligns with growing investor focus on ESG factors.
- Credit Rating Outlook: Recent positive revisions by S&P Global and Moody's underscore the company's improving financial health and industry tailwinds.
For investors, this development signals Welltower's strong market position and ability to execute on its growth strategy. The improved liquidity and extended debt maturities provide a solid foundation for future investments in the rapidly evolving healthcare real estate sector.
Welltower's strategic move to upsize and extend its credit facility is a testament to its strong position in the healthcare REIT sector. This transaction carries several implications for the company and its investors:
- Capital Deployment Capacity: With access to up to
$7.5 billion in credit facilities, Welltower is well-positioned to capitalize on attractive investment opportunities in the healthcare real estate market. - Portfolio Expansion: The enhanced liquidity provides Welltower with the firepower to pursue acquisitions and development projects, potentially leading to portfolio growth and diversification.
- Competitive Advantage: The company's ability to secure favorable terms from a syndicate of 29 financial institutions underscores its strong relationships within the banking sector, which can be a significant advantage in a competitive market.
- Financial Flexibility: The option to borrow in foreign currencies (up to
$1.25 billion ) supports Welltower's international expansion strategy, particularly in Canada and the United Kingdom. - Market Confidence: The successful completion of this transaction, coupled with positive credit rating outlooks, may boost investor confidence in Welltower's financial management and growth prospects.
For real estate investors, Welltower's enhanced financial position suggests the company is well-prepared to navigate the evolving healthcare landscape and potentially deliver value through strategic investments in seniors housing, post-acute care and outpatient medical properties.
"The successful upsizing and extension of our line of credit not only highlights the strength of Welltower's balance sheet and unparalleled access to efficiently priced capital, but also the powerful growth outlook of our business," said Tim McHugh, Welltower's Chief Financial Officer. "Thanks to the support of 29 participating financial institutions, the Company is well positioned with ample liquidity and historically low leverage to continue delivering shareholder value through disciplined capital allocation in any capital markets environment."
The Revolving Facility is comprised of an amended
The Company also has an existing
Welltower has an ability, on an uncommitted basis, to upsize the Revolving Facility and the Term Facility by up to an additional
BofA Securities, Inc., JPMorgan Chase Bank, N.A., Wells Fargo Securities LLC and KeyBanc Capital Markets Inc. were the U.S. Joint Lead Arrangers for the Revolving Facility. Bank of America, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Securities LLC were the Co-Syndication Agents for the Revolving Facility. KeyBank National Association is the Administrative Agent and Credit Agricole Corporate and Investment Bank is the Sustainability Structuring Agent.
About Welltower
Welltower Inc. (NYSE:WELL), a real estate investment trust ("REIT") and S&P 500 company headquartered in
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SOURCE Welltower Inc.
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