American Healthcare REIT, Inc. (AHR): debt financing — American Healthcare REIT amends credit agreement, temporarily relaxing financial covenants

American Healthcare REIT, Inc.

Consolidated Leverage Ratio raised to 65% through Q3 2023 (from 60%); reverts to 60% after Dec 2023.
Fixed Charge Coverage Ratio reduced to 1.25x for FY2023, then steps up to 1.50x (H1 2024) and 1.75x (Q3 2024+).
Unencumbered Interest Coverage Ratio lowered to 1.50x through Q3 2023, then 1.75x (Q4 2023) and 2.00x (Q1 2024+).
Credit facility aggregate principal remains up to $1.05B; amendment fee of $7,500 per lender paid.

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

American Healthcare REIT, Inc. amended credit facility of up to $1,050,000,000 with Bank of America, N.A., as administrative agent.

Instrument: credit facility
Principal: up to $1,050,000,000
Counterparty: Bank of America, N.A., as administrative agent
Event: amendment

Exact text from the filing

Credit Agreement, with Bank of America, N.A., or Bank of America, and the lenders named thereto, to obtain a credit facility with an aggregate maximum principal amount up to $1,050,000,000, or the 2022 Credit Facility. On March 1, 2023, we entered into an amendment to the 2022 Amended and Restated Credit Agreement, or the First Amendment, with Bank of America, as

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American Healthcare REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001632970-23-000013

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