11:19 AM EDT, 06/02/2025 (MT Newswires) -- CareTrust REIT ( CTRE ) said Monday it has finalized a new $500 million senior unsecured term loan to support its growth strategy.

The loan was arranged through an amendment to its existing credit deal with KeyBank National Association and a group of financial institutions, the company said.

This new term loan adds to CareTrust's current $1.2 billion unsecured revolving credit facility, it said.

The company said it plans to use the funds to repay about $475 million in existing debt, make new acquisitions, and support general operations.

The loan is set to mature in May 2030 and includes an option to expand the borrowing capacity by up to $800 million, according to the company.

Shares of the company were up 2% in recent trading.

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