DENVER--(BUSINESS WIRE)--
Janus Living, Inc. (NYSE: JAN) (“Janus Living”), a pure-play senior housing real estate investment trust (REIT), announced today that it has closed on the upsize of its $1.25 billion unsecured revolving credit facility.
The credit facility increases the existing total commitments from $600 million to $1.25 billion by increasing the revolving commitments by $750 million and terminating the prior $100 million unsecured delayed-draw term loan.The credit facility initially matures in March 2030 and may be extended pursuant to two six-month extension options.
Borrowings under the credit facility will continue to bear interest at SOFR plus 105 basis points based on Janus Living’s current leverage-based pricing grid, and carries a facility fee on the entire revolving commitment of 15 basis points per annum.The credit facility was undrawn at closing.
“We appreciate the strong support of our existing and new lender group for the successful upsize of our credit facility. The Janus Living platform is further strengthened by a balance sheet positioned for growth, with no outstanding debt and substantial capacity to pursue accretive external growth opportunities that generate long-term value for our shareholders,” said Kelvin Moses, Chief Financial Officer.
BofA Securities, Inc., JPMorgan Chase Bank, N.A., and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Bookrunners on the credit facility.
ABOUT JANUS LIVING
Janus Living, Inc. is a pure-play senior housing real estate investment trust (REIT) that owns high-quality communities across the United States that support residents with thoughtfully designed, highly amenitized environments. For more information regarding Janus Living, visit www.janusreit.com.
Jonathan Hughes, CFA
Senior Vice President – Finance and Investor Relations
720-428-5050
Source: Janus Living, Inc.
Key Terms
reitfinancial
A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.
delayed-draw term loanfinancial
A delayed-draw term loan is a loan arrangement where a lender agrees in advance to provide a fixed amount of money that the borrower can take out at one or more later dates, rather than receiving the cash all at once. It matters to investors because it gives a company a guaranteed source of funding when needed, affecting its short-term cash security, future interest costs and overall debt load—similar to having a reserved line of credit for planned expenses or deals.
SOFRfinancial
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
basis pointsfinancial
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.
leverage-based pricing gridfinancial
A leverage-based pricing grid is a structured schedule that sets fees, interest rates or margins based on how much borrowed money (leverage) a customer uses; higher leverage typically triggers higher costs. Think of it like a taxi meter that charges more per mile the faster or farther you go — it links price to risk and size. Investors care because this grid directly affects borrowing costs, potential returns and the effective risk of leveraged positions.
