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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
BofA Agents $400MM Credit Facility for Griffin-American Healthcare REIT
Wednesday, November 28, 2018
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Lenders/Participants
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Bank of America [Administrative Agent, Swing Line Lender, L/C Issuer]
KeyBank [Syndication Agent, L/C Issuer]
RBS Citizens, N.A. [Joint Lead Arranger, Joint Bookrunner, Syndication Agent]
KeyBanc Capital Markets [Joint Lead Arranger, Joint Bookrunner]
Merrill Lynch [Joint Lead Arranger, Joint Bookrunner]
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Structure
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Credit Facility
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Amount
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$400.000
Million
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Borrower(s)
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Griffin-American Healthcare REIT IV, Inc.
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Description
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The REIT and certain of its subsidiaries have entered into a new credit facility totaling $400 million. The maximum principal amount of the credit facility may be increased to up to $650 million upon the request of Griffin-American Healthcare REIT IV and satisfaction of certain conditions. The credit facility may be utilized for refinancing existing debt and for general corporate purposes including, without limitation, property acquisitions. The credit facility matures on Nov. 19, 2021, but may be extended for one 12-month period during its term by Griffin-American Healthcare REIT IV upon the satisfaction of certain conditions, including payment of an extension fee. At the option of Griffin-American Healthcare REIT IV, draws under the credit facility bear interest at per annum rates equal to (1) (a) the Eurodollar Rate, as defined by the credit facility, plus (b) a margin ranging from 1.75 percent to 2.20 percent per annum based on the REIT's consolidated leverage ratio, or (2) (a) the greater of (i) Bank of America's prime rate, (ii) the Federal Funds Rate, as defined by the credit facility, plus 0.50 percent, (iii) the one-month Eurodollar Rate plus 1.00 percent, and (iv) zero percent, plus (b) a margin ranging from 1.75 percent to 2.20 percent based on the REIT's consolidated leverage ratio.
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Industry
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Real Estate
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| Related Tags |
Bank of America, Citizens Bank, KeyBanc Capital Markets, KeyBank, Merrill Lynch
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ABL Advisor
Deal Tables
2025
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