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Medical Properties secures A$1.2B loan facility

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Medical Properties secures A$1.2B loan facility

Medical Properties Trust Inc. signed a new A$1.2 billion term loan facility that it plans to use to partially fund its acquisition of 11 Australian hospitals from Healthscope Ltd.

Under the loan agreement, MPT Operating Partnership LP and its unit, MPT Australia Realty Trust, have an option to request incremental term loan commitments of up to A$550 million, according to a filing.

The facility, maturing May 23, 2024, carries an applicable margin based on a pricing grid ranging from 0.85% to 1.65%.

Medical Properties also amended a credit agreement dated Feb. 1, 2017, it signed with JPMorgan Chase Bank NA, acting administrative agent, and several other lenders.

Bank of America NA acted as administrative agent for the new facility.