Summary
Health Care REIT, Inc. (now WELL Health Real Estate Investment Trust, Inc., trading as WELL) filed an 8-K on August 30, 2002, to report the execution of an Amended and Restated Loan Agreement. This agreement, effective August 23, 2002, establishes a $175 million unsecured credit facility for the company and its subsidiaries. The facility matures on August 22, 2005, and involves a syndicate of prominent financial institutions including Key Corporate Capital Inc., Deutsche Bank Trust Company Americas, Bank of America, N.A., and others, with KeyBank National Association serving as the administrative agent. This action provides the company with significant financial flexibility and access to capital. The unsecured nature of the credit facility suggests a strong credit profile for Health Care REIT, Inc., allowing it to secure substantial funding without pledging specific assets. Investors should view this as a positive development, indicating the company's ability to manage its financing needs and support its ongoing operations and potential growth initiatives.
Key Highlights
- 1Execution of an Amended and Restated Loan Agreement effective August 23, 2002.
- 2Establishment of a $175 million unsecured credit facility.
- 3The credit facility matures on August 22, 2005.
- 4The agreement involves a syndicate of major financial institutions, including Key Corporate Capital Inc., Deutsche Bank Trust Company Americas, and Bank of America, N.A.
- 5KeyBank National Association is designated as the administrative agent for the facility.
- 6Deutsche Bank Securities Inc. and UBS Warburg LLC are serving as syndication and documentation agents, respectively.
- 7The filing indicates the company's access to significant capital and financial flexibility.