EPR Expands Borrowing Capacity Ahead of 2026 Maturities
A new $600 million delayed-draw term loan bolstered funding for upcoming debt payments.
EPR Properties (EPR), a real estate investment trust, expanded its committed borrowing availability to $1.6 billion as it prepared to address debt maturities later in 2026.
The refinancing strengthened a liquidity position that at March 31 included $68.5 million of cash and no outstanding balance on the company’s revolving credit facility. The added delayed-draw capacity was intended to address maturities in August and December.
EPR replaced its previous $1.0 billion revolving facility and added the delayed-draw loan. An accordion feature could increase total borrowing availability to $2.6 billion.
The company also extended the revolving facility’s maturity to July 17, 2030, from Oct. 2, 2028. Two additional six-month extension options could push that date further, while the term loan matures Jan. 17, 2032.
Borrowing costs under the new revolving facility generally were lower than rates on outstanding loans under the facility it replaced.
The larger financing structure followed growth in EPR’s balance sheet. Total assets stood at approximately $5.7 billion, up roughly $200 million from Sept. 30, 2025.