Jan. 7, 2014
/PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA) announced today that it had executed a new
senior unsecured, 4-year term loan (the "New Term Loan"). The New Term Loan replaces the existing
term loan (the "Existing Term Loan") that was originally scheduled to mature in
. The New Term Loan will have an initial maturity date of
and can be extended by HTA for up to 1 year, subject to certain conditions.
Based on HTA's recent upgrade by Moody's to Baa2 (announced on
December 19, 2013
), the New Term Loan will be initially priced at LIBOR plus 120 bps. This represents a reduction of 65 bps from the borrowing cost on the Existing Term Loan as of
December 18, 2013
. The ratings upgrade also reduced the borrowing rate and facility fees on HTA's existing (i)
revolving credit facility maturing in 2016 and (ii)
term loan maturing in 2019. As a result, total interest expense savings on the current outstanding balances on these facilities are anticipated to total over
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC served as Joint Bookrunners and Joint Lead Arrangers with JP Morgan Chase Bank, N.A. serving as the Administrative Agent and Wells Fargo Bank, National Association serving as the Syndication Agent. U.S. Bank National Association, Fifth Third Bank, Capital One, N.A., Regions Bank, Compass Bank and Bank of
were documentation agents. The Bank of
and PNC Bank served as managing agents.
"The New Term Loan demonstrates the credit strengths of HTA's medical office building portfolio, its enterprise property management and leasing platform, and our strong and flexible balance sheet," stated
Kellie S. Pruitt
, Chief Financial Officer at HTA. "We are pleased to continue growing our relationships with these leading financial institutions."
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE:HTA), a publicly traded real estate investment trust, is a full-service real estate company focused on acquiring, owning and operating high-quality medical office buildings that are predominantly located on or aligned with campuses of nationally or regionally recognized healthcare systems in the U.S. Since its formation in 2006, HTA has invested approximately
to build a portfolio of properties that is comprised of approximately 14.1 million square feet of gross leasable area located in 27 states. It operates its properties through regional offices in
For more information on Healthcare Trust of America, Inc., please visit
This press release contains certain forward-looking statements. Forward-looking statements are based on current expectations, plans, estimates, assumptions and beliefs, including expectations, plans, estimates, assumptions and beliefs about HTA, stockholder value and earnings growth.