Carter ValidusMission Critical REIT II Inc.'s Carter Validus OperatingPartnership II LP and certain of the company's subsidiaries amended theexisting credit facilitywith KeyBank NA to boost the maximum commitments available to as much as $315.0million from $265.0 million.
The credit facility comprises a $265.0 million revolvingline of credit due Dec. 22, 2018, and a $50.0 million term loan due Dec. 22,2019. The revolving line of credit and term loan come with two and one 12-monthextension options, respectively. Subject to certain conditions, the facilitycan be further expanded to $550.0 million, according to a filing.
The annual interest rate under the facility was alsoincreased, at the operating partnership's option, to either the LIBOR plus anapplicable margin range of 2.00% to 2.65%, or a base rate plus an applicablemargin range of 1.00% to 1.65%.
The facility had a roughly $252.5 million total pool availability,a $135.0 million total outstanding principal balance and an estimated $117.5million remaining amount to be drawn on as of Oct. 4.