CareTrust REIT renews unsecured revolver to $600M, extends maturity to 2027

CareTrust REIT, Inc.

$600M unsecured revolver and $200M term loan under amended credit agreement.
Revolver matures February 2027; term loan matures February 2026.
Pricing grid: revolver SOFR+110-155bps, term loan SOFR+150-220bps.
Accordion provision allows seeking up to $500M additional capacity.
Proceeds for working capital, capex, acquisitions, general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

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

CareTrust REIT, Inc. amended Credit Agreement with KeyBank National Association and the lenders party thereto valued at $600.0 million and $200.0 million (effective 2022-12-16).

Action: amendment
Agreement: credit facility
Counterparty: KeyBank National Association and the lenders party thereto
Value: $600.0 million and $200.0 million
Effective: 2022-12-16

Exact text from the filing

On December 16, 2022, CTR Partnership, L.P. (the “Operating Partnership”), as the borrower, CareTrust REIT, Inc. (the “Company”), as guarantor, CareTrust GP, LLC, and certain of the Operating Partnership’s wholly owned subsidiaries entered into a second amended and restated credit and guaranty agreement with KeyBank National Association, as administrative agent, an issuing bank and swingline lender, and the lenders party thereto (the “Credit Agreement”).

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CareTrust REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-22-032210

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