Item 1.01. Entry into a Material Definitive Agreement.


On January 15, 2021, Medical Properties Trust, Inc., a Maryland corporation (the
"Company"), and MPT Operating Partnership, L.P., a Delaware limited partnership
and the Company's operating partnership (the "Operating Partnership" or the
"Borrower"), entered into an amended and restated revolving credit and term loan
agreement (the "Credit Agreement") with JPMorgan Chase Bank, N.A., as
Administrative Agent, Bank of America, N.A., as syndication agent, the several
lenders from time to time parties thereto and JPMorgan Chase Bank, N.A. and BofA
Securities, Inc., as joint bookrunners. The Company and the Operating
Partnership intend to use proceeds for working capital and for other general
corporate purposes, including permitted acquisitions and other investments and
repayment of debt. The Credit Agreement amends and restates the Company's
existing amended and restated revolving credit and term loan agreement among the
Company, the Operating Partnership, JPMorgan Chase Bank, N.A., as Administrative
Agent and the several lenders from time to time parties thereto, dated as of
February 1, 2017, as amended.
The Credit Agreement governs a $1.3 billion unsecured revolving loan facility
and a $200 million unsecured term loan facility. After the closing date, the
Borrower may request incremental term loan and/or revolving loan commitments in
an aggregate amount not to exceed $500 million.
The maturity date of the term loan facility is February 1, 2026. The maturity
date of the revolving loan facility is February 1, 2024. The Borrower has an
option to extend the maturity date of the revolving loan facility for six
months, which option may be exercised up to two times. The Borrower may prepay
loans under the Credit Agreement at any time, subject to certain notice
requirements.
At the Borrower's election, loans under the Credit Agreement may also be made as
either ABR Loans or Eurocurrency Loans. The applicable margin for term loans
that are ABR Loans is adjustable on a sliding scale from 0.00% to 0.85% based on
current credit rating. The applicable margin for term loans that are
Eurocurrency Loans is adjustable on a sliding scale from 0.85% to 1.85% based on
current credit rating. The applicable margin for revolving loans that are ABR
Loans is adjustable on a sliding scale from 0.00% to 0.55% based on current
credit rating. The applicable margin for revolving loans that are Eurocurrency
Loans is adjustable on a sliding scale from 0.825% to 1.55% based on current
credit rating. The facility fee is adjustable on a sliding scale from 0.125% to
0.30% based on current credit rating and is payable on the revolving loan
facility.
Borrowings under the Credit Agreement are guaranteed by the Company and certain
of its subsidiaries pursuant to a Guarantee Agreement in favor of JPMorgan Chase
Bank, N.A., as Administrative Agent.
The Credit Agreement contains customary financial and operating covenants,
including covenants relating to total leverage ratio, fixed charge coverage
ratio, secured leverage ratio, consolidated adjusted net worth, unsecured
leverage ratio, unsecured interest coverage ratio and covenants restricting the
incurrence of debt, imposition of liens, the payment of dividends, and entering
into affiliate transactions. The Credit Agreement also contains customary events
of default, including among others, nonpayment of principal or interest,
material inaccuracy of representations and failure to comply with covenants. If
an event of default occurs and is continuing under the Credit Agreement, the
entire outstanding balance may become immediately due and payable.
Some of the lending banks and their affiliates from time to time have provided
in the past and may provide in the future investment banking, commercial lending
and financial advisory services to the Company and its affiliates in the
ordinary course of business.
The foregoing description of the Credit Agreement is qualified in its entirety
by the full terms and conditions of the Credit Agreement, a copy of which will
be attached as an exhibit to the Company's and Operating Partnership's combined
Quarterly Report on Form
10-Q
for the quarter ended March 31, 2021.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance
           Sheet Arrangement of a Registrant.


The disclosure set forth above with respect to the Credit Agreement under Item
1.01 of this Current Report on Form
8-K
is hereby incorporated into this Item 2.03 by reference.
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