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HSBC, Others Ink Syndicated $150MM Credit Facility for Medical Facilities Corporation

August 31, 2018, 07:06 AM
Filed Under: Healthcare

Medical Facilities Corporation, has entered into an agreement providing for a new U.S. $150 million syndicated revolving credit facility.

The new U.S. dollar denominated credit facility has a five year maturity and replaces the Company's $100 million Canadian dollar denominated facility that was due to mature at the end of 2018. Subject to the terms of the credit agreement, the new revolving credit facility may be used for acquisitions and other general corporate purposes.

"We are pleased to have obtained a much larger credit facility under favorable terms," said Robert O. Horrar, President and CEO of Medical Facilities. "The new credit facility better supports our future growth efforts, significantly increasing our flexibility as we focus on building scale and further diversifying our portfolio through accretive acquisitions."

The lending syndicate is comprised of National Bank of Canada, The Toronto-Dominion Bank and HSBC Bank Canada.

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