News Archive

News Archive

02/11/2019

CareTrust (CTRE) upsizes revolver, closes seven-year term loan.

CareTrust REIT (CTRE) announced today that it has increased its revolving credit facility from $400 million to $600 million and also entered into a $200 million seven-year term loan.  Management said that CTRE expects to achieve "immediate interest savings" through tighter pricing, and also noted that the increased revolver capacity will help finance the acquisition pipeline "which is currently larger than usual."

CTRE's outstanding 5.25% senior notes due 2025 are rated Ba3/BB.