Ventas, Inc. (VTR): debt financing — Ventas Realty enters $200M unsecured term loan, maturing Feb 2027

Ventas, Inc.

Ventas Realty, L.P. signed a $200 million unsecured term loan facility on Sept 6, 2023, with Bank of America as administrative agent.
Borrowing capacity may be increased to up to $500 million at the borrower's option, subject to conditions.
Loan matures Feb 1, 2027; interest at Term SOFR or base rate plus spread based on long-term senior unsecured debt ratings.
Ventas, Inc. guarantees obligations; the loan ranks equally with other senior unsecured debt.
Covenants include leverage ratios, liens, investments, and events of default.

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

Ventas, Inc. incurred term loan of $200 million unsecured term loan facility with Bank of America, N.A., as Administrative Agent at a fluctuating rate per annum equal to (x) the applicable Term SOFR for Term SOFR maturing February 1, 2027.

Instrument: term loan
Principal: $200 million unsecured term loan facility
Counterparty: Bank of America, N.A., as Administrative Agent
Rate: a fluctuating rate per annum equal to (x) the applicable Term SOFR for Term SOFR
Maturity: February 1, 2027
Event: incurrence

Exact text from the filing

On September 6, 2023, Ventas Realty, Limited Partnership (the "Borrower"), as borrower, a wholly owned subsidiary of Ventas, Inc. (the "Company"), and the Company, as guarantor, entered into a Credit and Guaranty Agreement (the "Credit Agreement"), with the lenders identified therein and Bank of America, N.A., as Administrative Agent. The Credit Agreement provides for a $200 million unsecured term loan facility (the "Term Loan Facility").

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Ventas, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-100039

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