11:03 AM EDT, 09/23/2024 (MT Newswires) -- EPR Properties ( EPR ) said Monday it has entered into a new $1 billion unsecured revolving credit facility, which will replace an existing credit facility of the same amount.

The new facility will mature in October 2028 and reduce the interest rate paid by the real estate manager on any borrowings.

The new facility contains an accordion feature allowing EPR Properties ( EPR ) to increase the overall size of the loan to as much as $2 billion, subject to consent of KeyBank and the other participating lenders. It also includes a $100 million letter-of-credit sub-facility and a $300 million revolver for foreign-currency borrowings, EPR said.

The company can extend the maturity of the loan twice in increments of six months each, subject to paying additional fees and the absence of any default, it said.

EPR currently has about $169 million in borrowings through the loan package, it said in regulatory documents detailing the revised agreement.

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