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Sabra Health wins improved borrowing terms

Jan. 05, 2016 10:51 AM ETSabra Health Care REIT, Inc. (SBRA) StockBy: Stephen Alpher, SA News Editor
  • The amended and restated credit facility is expected to boosts Sabra's (NASDAQ:SBRA) revolving borrowing capacity to $500M from $450M, and increase U.S. dollar and Canadian dollar term loans to $245M and C$125M from $200M and C$90M.
  • Borrowings under the revolver are expected to have a base rate of Libor plus 180-240 basis points, plus another 80-40 basis points - a 20 basis point improvement from the current facility. Should Sabra get at least two investment grade ratings from the big agencies, further cuts would be in store.
  • Source: Press Release

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