CareTrust REIT Enters Material Definitive Agreement

TL;DR

CareTrust REIT just signed a big deal, could mean new debt or obligations.

AI Summary

On December 18, 2024, CareTrust REIT, Inc. entered into a material definitive agreement related to a financial obligation. The company, headquartered in San Clemente, CA, filed an 8-K report detailing this event. Specific details regarding the nature of the agreement and the financial obligation were not fully disclosed in the provided text, but it falls under the categories of Material Definitive Agreement, Direct Financial Obligation, and Regulation FD Disclosure.

Why It Matters

This filing indicates a significant new financial commitment or agreement for CareTrust REIT, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce new risks related to debt, performance, and market conditions.

Key Players & Entities

• CareTrust REIT, Inc. (company) — Registrant
• December 18, 2024 (date) — Date of earliest event reported
• San Clemente, CA (location) — Principal executive offices location
• 905 Calle Amanecer, Suite 300 (address) — Principal executive offices address

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share CTRE The New York Stock E
• $1.2 b — nts in an aggregate principal amount of $1.2 billion, including a letter of credit sub
• $800.0 million — ty in an aggregate amount not to exceed $800.0 million. The Company does not currently have an

Filing Documents

• ef20040398_8k.htm (8-K) — 40KB
• ef20040398_ex10-1.htm (EX-10.1) — 1065KB
• ef20040398_ex99-1.htm (EX-99.1) — 10KB
• image0.jpg (GRAPHIC) — 40KB
• image1.jpg (GRAPHIC) — 1KB
• 0001140361-24-049974.txt ( ) — 1538KB
• ctre-20241218.xsd (EX-101.SCH) — 4KB
• ctre-20241218_lab.xml (EX-101.LAB) — 21KB
• ctre-20241218_pre.xml (EX-101.PRE) — 16KB
• ef20040398_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. On December 18, 2024, CTR Partnership, L.P. (the "Operating Partnership") , as the borrower, CareTrust REIT, Inc. (the "Company") , as guarantor, CareTrust GP, LLC, and certain of the Operating Partnership's wholly owned subsidiaries entered into a third amended and restated credit and guaranty agreement with KeyBank National Association, as administrative agent, an issuing bank and swingline lender, and the lenders party thereto (the "Credit Agreement"). The Credit Agreement, which amends and restates the Company's existing second amended and restated credit and guaranty agreement, dated as of December 16, 2022, (as amended, the "Prior Credit Agreement") now provides for an unsecured revolving credit facility (the "Credit Facility") with revolving commitments in an aggregate principal amount of $1.2 billion, including a letter of credit subfacility for 10% of the then available revolving commitments and a swingline loan subfacility for 10% of the then available revolving commitments. The Company currently expects to use borrowings under the Credit Facility for working capital purposes, for capital expenditures, to fund acquisitions and for general corporate purposes. The Credit Facility has a maturity date of February 9, 2029, and includes two, six-month extension options. The Credit Agreement provides that, subject to customary conditions, including obtaining lender commitments and pro forma compliance with financial maintenance covenants under the Credit Agreement, the Operating Partnership may seek to increase the aggregate principal amount of the revolving commitments and/or establish one or more new tranches of term loans under the Credit Facility in an aggregate amount not to exceed $800.0 million. The Company does not currently have any commitments for such increased commitments or loans. The interest rates applicable to loans under the Credit Facility are, at the Operating Partnership's option, eq

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 above is incorporated herein by reference.

01

Item 7.01 Regulation FD Disclosure. On December 19, 2024, the Company issued a press release announcing entry into the Credit Agreement. A copy of the press release is furnished as Exhibit 99.1 hereto. This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Third Amended and Restated Credit and Guaranty Agreement, dated as of December 18, 2024, by and among CTR Partnership, L.P., as borrower, CareTrust REIT, Inc., as guarantor, CareTrust GP, LLC and the other guarantors named therein and KeyBank National Association, as administrative agent, an issuing lender and swingline lender and the other parties thereto. 99.1 Press release dated December 19, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARETRUST REIT, INC. By: /s/ William M. Wagner Name: William M. Wagner Title: Chief Financial Officer and Treasurer Date: December 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR