DHC - Diversified Healthcare Trust amends revolving credit facility

Diversified Healthcare Trust (NASDAQ:DHC) amended its revolving credit facility and exercised its option to extend its maturity date to Jan. 2024. Waiver of the Fixed Charge Coverage Ratio has been extended through Dec. 31. DHC has the ability to fund up to $400M of capex per year, an increase from the previous $350M annual limit, and also has the ability to acquire up to $500M of real property. The revolving credit facility commitments have been reduced from $800M to $700M. In Jan. 2023, these commitments will be further reduced to $586M. The interest rate premium has been increased by 15 bps. “This amendment enhances our financial flexibility as we continue to invest capital in our properties and work with our senior living operators as they recover from the effects of the pandemic," said DHC CEO Jennifer Francis.

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Diversified Healthcare Trust amends revolving credit facility