LTC Properties amended its Credit Agreement on Jun 26 2026, increasing aggregate lender commitments to $1.1 billion and raising the revolving credit commitments to $900 million. The revision also lifts the maximum permitted commitments to $2.0 billion, maintaining all other material terms. In conjunction, the company entered into 3-year interest rate swaps to fix the rate on $150 million at 4.97% per annum, aiming to reduce interest rate volatility. Together, these actions bolster liquidity and provide clearer visibility into borrowing costs.
Agreement 1: LTC Properties Expands Credit Agreement to $1.1 Billion, Lifts Revolver to $900 Million
- Agreement type: Second Amendment to senior unsecured revolving credit facility
- Counterparty: KeyBank as Administrative Agent; Wells Fargo, Citizens Bank, Huntington National Bank, Royal Bank of Canada, U.S. Bank, M&T Bank, Hancock Whitney Bank as lenders
- Signed / Effective: Jun 26 2026 / same
- Reason: Enhance liquidity and financial flexibility
Agreement 2: LTC Properties Enters 3-Year Swaps to Fix $150 Million at 4.97%
- Agreement type: Three-year interest rate swap agreements fixing $150 million at 4.97%
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: 3 years
- Reason: Hedge interest rate exposure on credit facility
Original SEC Filing:
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