EPR Properties announced that it has received commitments from its existing lenders for a new amended and restated $1.0 billion, four-year senior unsecured revolving credit facility. The new facility, which the Company expects will close in early fourth quarter, will replace the Company's existing $1.0 billion senior unsecured revolving credit facility and $400.0 million senior unsecured term loan facility. The Company currently expects the new facility to provide for an initial maximum principal amount of borrowing availability of $1.0 billion with an "accordion" feature under which the Company may increase the total maximum principal amount available by $1.0 billion, to a total of $2.0 billion, subject to lender consent. The Company also currently expects the new facility to have the same pricing terms and financial covenants as its existing facility (with improved valuation of certain asset types), as well as customary covenants and events of default. The Company expects that it will have two options to extend the maturity date of the new credit facility by an additional six months each (for a total of 12 months), subject to paying additional fees and the absence of any default. The Company expects to use borrowings under the new facility for general business purposes, including the acquisition of experiential properties consistent with its current strategy. In connection with receiving the commitments for the new facility, and in furtherance of the Company's strategy to obtain investment grade ratings on its senior long-term unsecured debt, the Company repaid its $400.0 million term loan facility using cash on hand. Immediately subsequent to this repayment, the Company had in excess of $130.0 million of cash on hand and nothing borrowed on its existing $1.0 billion senior unsecured revolving credit facility. Completion of the new facility is subject to lender review and approval of definitive documentation.