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HEALTHPEAK PROPERTIES, INC.

(PEAK)
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Healthpeak Properties : Announces Closing of Upsized $3 Billion Revolving Credit Facility (Form 8-K)

09/20/2021 | 04:22pm EDT

Healthpeak Properties Announces Closing of Upsized $3 Billion Revolving Credit Facility

DENVER, Sept. 20, 2021 /PRNewswire/ -- Healthpeak Properties, Inc. (NYSE: PEAK) announced today that it has closed a new $3.0 billion senior unsecured revolving credit facility.

The new credit facility increases the total revolving commitments from $2.5 billion to $3.0 billion, reduces Healthpeak's borrowing costs, and extends the maturity date to January 20, 2026, which may be further extended pursuant to two six-month extension options, subject to certain conditions.

Based on Healthpeak's current credit ratings, the credit facility bears interest at a rate per annum equal to LIBOR plus 77.5 basis points, which represents a five basis point improvement from pricing under the previous unsecured revolving credit facility, and carries a facility fee on the entire revolving commitment of 15 basis points per annum.

"Our successful closing of this transaction demonstrates our continued proactive approach in managing our balance sheet to support Healthpeak's growth and drive stockholder returns, by enhancing liquidity, extending maturities and lowering borrowing costs," said Peter Scott, Chief Financial Officer. "We appreciate our banking group's continued support and their confidence in our company and our future."

The credit facility was arranged by BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC. BofA Securities, Inc. and JPMorgan Chase Bank, N.A. were the joint bookrunners for the credit facility. Bank of America, N.A. is serving as the administrative agent and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association acted as co-syndication agents for the credit facility.

About Healthpeak Properties

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Medical Office and CCRCs. At Healthpeak, we pair our deep understanding of the healthcare real estate market with a strong vision for long-term growth. For more information regarding Healthpeak, visit www.healthpeak.com.

Contact

Andrew Johns, CFA

Vice President - Corporate Finance and Investor Relations

720-428-5400

Disclaimer

Healthpeak Properties Inc. published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2021 20:21:07 UTC.


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Financials (USD)
Sales 2021 1 863 M - -
Net income 2021 516 M - -
Net Debt 2021 4 863 M - -
P/E ratio 2021 36,2x
Yield 2021 3,49%
Capitalization 18 562 M 18 562 M -
EV / Sales 2021 12,6x
EV / Sales 2022 12,5x
Nbr of Employees 217
Free-Float 99,8%
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Number of Analysts 20
Last Close Price 34,44 $
Average target price 37,47 $
Spread / Average Target 8,80%
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Managers and Directors
Thomas M. Herzog Chief Executive Officer & Director
Scott M. Brinker President & Chief Investment Officer
Peter A. Scott Chief Financial Officer & Executive Vice President
Brian G. Cartwright Independent Chairman
Keith Bereskin SVP-Information Technology & Building Operations
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