Latham Advises on Welltower’s Upsizing and Maturity Extension of US$5 Billion Senior Unsecured Line of Credit

Welltower® Inc. (NYSE: WELL), a REIT and S&P 500 company in the healthcare infrastructure space, has announced that it has closed on an amended US$5 billion senior unsecured revolving line of credit (Revolving Facility). Through the Amendment, the Company will bolster its already strong liquidity position and extend its well-staggered debt maturity profile, while also achieving improved pricing. The closing of the Revolving Facility follows recent revisions to the Company's credit rating outlook to positive from stable by both S&P Global and Moody's, both of which cited strong seniors housing industry tailwinds and a materially improved balance sheet.

Latham & Watkins LLP represented KeyBank National Association, as administrative agent, in the financing with a banking team led by New York partner Alfred Xue and Los Angeles partner Jeffrey Senac, with associates Jeff Najjar, Eric Dang, and Nilam Faqhir. Advice was also provided on tax matters by Century City partner Ana O’Brien, with associate Kathryn Harrington; and on ESG matters by New York partner Betty Huber, with associate Preeti Grewal.