Medical Properties Trust seeks new up to $450 million credit facility

By Sara Rosenberg

New York, April 12 - Medical Properties Trust Inc. has begun to secure commitments from a syndicate of lenders for a new up to $450 million credit facility, according to a 424B5 filed with the Securities and Exchange Commission on Monday.

JPMorgan and KeyBank are the joint lead arrangers on the deal.

The facility consists of a $300 million revolver and a $150 million term loan.

As of Monday, the company has received written commitments totaling $230 million from five lenders for the revolver.

Proceeds will be used for general corporate purposes, including the repayment of debt and funding future acquisitions and investments.

Medical Properties is a Birmingham, Ala.-based self-advised real estate investment trust focused on net-leased health care facilities.

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