On Monday, EPR Properties announced that it has secured a new $1 billion unsecured revolving credit facility. This updated facility, which matures on October 2nd, 2028, replaces the company’s previous $1 billion facility based in Kansas City.
The new credit line allows for an initial borrowing availability of up to $1 billion and includes an “accordion” feature that could potentially increase the total available principal to $2 billion with lender approval. It also offers lower interest rates on outstanding loans and removes certain financial covenants while simplifying asset valuation methods.
According to Greg Silvers, President and CEO of EPR Properties: “This new credit facility not only strengthens our financial position as we continue investing in experiential properties but also reflects our bank group’s confidence in our long-term strategy.”
