Health Care REIT, Inc. (NYSE:HCN) announced today that it has closed a $2.75 billion unsecured credit facility consisting of a $2.25 billion revolver and a $500 million term loan to be funded today. The facility replaces the company’s existing $2.0 billion unsecured revolving credit facility. The revolver matures on March 31, 2017, and can be extended for an additional year at the company’s option. The term loan matures on March 31, 2016, and can be extended up to two years at the company’s option. Based on the company’s current credit ratings, the revolver bears interest at LIBOR plus 117.5 basis points and has an annual facility fee of 22.5 basis points. The term loan bears interest at LIBOR plus 135 basis points. Health Care REIT has an option to upsize the facility by up to an additional $1.0 billion through an accordion feature, allowing for aggregate commitments of up to $3.75 billion. The facility also allows the company to borrow up to $500 million in alternate currencies. “We continue to benefit from a favorable borrowing environment and the support of our bank group. The improved terms and additional capacity of this credit facility provide Health Care REIT with an efficient capital source to support its accretive investment program,” commented George L. Chapman, Health Care REIT’s Chairman and Chief Executive Officer. The company intends to use proceeds from the credit facility to fund announced investment activity and for general corporate purposes including investing in health care and seniors housing properties. The credit facility was arranged by Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC as Joint Bookrunners and Joint Lead Arrangers. Bank of America, N.A. and JPMorgan Chase Bank, N.A. were Co-Syndication Agents. KeyBanc Capital Markets Inc. was a Joint Lead Arranger and KeyBank National Association was Administrative Agent. Deutsche Bank Securities, Inc. served as a Joint Lead Arranger and Documentation Agent.