MPT: Prospect completes $375M recap, $250M ABL repaid; Australian hospital sale delayed to Q3 2023

MEDICAL PROPERTIES TRUST INC

Prospect's $250M ABL facility fully repaid; $75M MPT delayed-draw term loan now secured by receivables.
MPT's $1.6B Prospect investment to be reconstituted: $513M in CA hospitals, $457M CT real estate (sale to Yale New Haven expected Q3 2023), $150M mortgage, $264M loans, plus equity interests.
Yale New Haven to acquire CT real estate for $355M cash and $103M equity in Prospect's managed care; closing now Q3 2023, not Q2.
Third-party lenders provided $375M new financing to Prospect; terms ~3 years.
MPT expects full rent payments at 8.44% cash yield on CA hospitals beginning March 2024.

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