Community Healthcare Trust Inc (CHCT): debt financing — Community Healthcare Trust closes $150M A-5 term loan, repays $135M in existing debt

Community Healthcare Trust Inc

Entered into $150M A-5 term loan facility maturing March 14, 2030 under amended credit agreement.
Proceeds used to repay $50M A-2 term loan and $85M revolving facility; remainder for acquisitions.
Total capacity increased to $700M via accordion; includes $150M revolver expiring 2026.
Transitioned from LIBOR to SOFR as benchmark rate; interest spreads based on leverage ratio.
Company intends to enter interest rate swaps to fix balance of the A-5 term loan.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Community Healthcare Trust Inc incurred term loan of $150.0 million with Truist Bank at adjusted term SOFR or adjusted daily simple SOFR plus 1.65% to 2.30% or base rat maturing March 14, 2030.

Instrument: term loan
Principal: $150.0 million
Counterparty: Truist Bank
Rate: adjusted term SOFR or adjusted daily simple SOFR plus 1.65% to 2.30% or base rat
Maturity: March 14, 2030
Event: incurrence

Exact text from the filing

The First Amendment amends the Credit Agreement to, among other things, (i) establish a new seven-year and three-month term loan facility in the aggregate principal amount of $150.0 million (the “A-5 Term Loan”), and (ii) replace the London interbank offered rate (“LIBOR”) as a benchmark interest rate for loans under the Credit Agreement with the secured overnight financing rate administered by the Federal Reserve Bank of New York (“SOFR”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Community Healthcare Trust Inc amended First Amendment to the Third Amended and Restated Credit Agreement with Truist Bank (as administrative agent) and syndicate of lenders valued at Not disclosed (effective 2022-12-14).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank (as administrative agent) and syndicate of lenders
Value: Not disclosed
Effective: 2022-12-14

Exact text from the filing

Item 1.01 Entry into a Material Definitive Agreement. On December 14, 2022, Community Healthcare Trust Incorporated (the “Company”), as borrower, entered into a first amendment (the “First Amendment”) to the third amended and restated credit agreement (the “Credit Agreement”) with a syndicate of lenders, under which Truist Bank serves as administrative agent.

View on SEC.gov

Browse all debt financings →

Community Healthcare Trust Inc filing history →

Source: SEC EDGAR

accession 0001104659-22-127093

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.