Sabra Health Care REIT, Inc. Announces Amended and Restated Its Credit Facility
January 05, 2023 at 09:05 am
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Sabra Health Care REIT, Inc. announced that it has amended and restated its credit facility, improving its debt maturity profile while keeping capacity and pricing consistent with its prior credit facility. Summary: $1.0 billion unsecured revolving credit facility maturing in January 2027, with two additional six-month extension options; USD 430 million unsecured term loan maturing in January 2028; CAD 150 million (USD 110 million) unsecured term loan maturing in January 2028; Pricing is consistent with the prior credit facility and will be based on adjusted SOFR/CDOR plus a spread of 77.5-145 bps for the revolver, and 85-165 bps for the term loans. At closing, the spread for Sabra's borrowings under the revolver and term loans were 110 bps and 125 bps, respectively; Additionally, an accordion feature affords Sabra the optionality to seek an increase in the capacity of the credit facility to $2.75 billion, subject to customary terms and conditions.
Sabra Health Care REIT, Inc. operates as a self-administered, self-managed real estate investment trust (REIT) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. The Company's primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. Its investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities (Senior Housing - Leased), behavioral health facilities, and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing - Managed); investments in joint ventures; loans receivable, and preferred equity investments. Its real estate properties held for investment include approximately 37,834 beds/units, spread across the United States and Canada.
SABRA HEALTH CARE REIT, INC. 
