Medical Properties Trust Divests $105M Of Its Interest In Steward's Credit Facility

Medical Properties Trust Inc MPW has sold $105 million of its interest in Steward Health Care System's new syndicated asset-backed credit facility.

The stake was sold to a global asset manager with more than $100 billion in assets under management.

"MPT's participation enabled Steward to close on this facility months ahead of maturity, removing market concerns around its ability to refinance," said Edward K. Aldag, Chairman, President and CEO.

Also Read: Analyst Foresees Challenges For Medical Properties Trust, Expects 35% Dividend Cut

"This prompt reduction in MPT's commitment to the facility reflects the Company's focus on reducing leverage as well as the continued strong level of participation interest from sophisticated third-party lenders."

Medical Properties Trust is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. 

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Price Action: MPW shares closed higher by 1.49% at $7.50 on Thursday.