Global Medical REIT Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events	3 Months Ended
Mar. 31, 2021
Subsequent Events
Subsequent Events	Note 10 – Subsequent Events On May 3, 2021, the Company entered into the Amended and Restated Credit Facility to, among other things, (i) increase the overall capacity of the facility from $600 million to $750 million, consisting of a $400 million revolver component and a $350 million term loan component, (ii) convert the facility from a secured facility to an unsecured facility, (iii) extend the maturity of the revolver component to May 2025, with two six-month extension options, and extend the maturity of the term loan component to May 2026, and (iv) implement a new pricing matrix. The Amended and Restated Credit Facility also includes a $500 million accordion feature. The Amended and Restated Credit Facility has a number of financial covenants, including, among other things, the following as of the end of each fiscal quarter, (i) a maximum consolidated unsecured leverage ratio of less than 60%, (ii) a maximum consolidated secured leverage ratio of less than 30%, (iii) a maximum consolidated secured recourse leverage ratio of less than 10%, (iv) a minimum fixed charge coverage ratio of 1.50:1.00, (v) a minimum unsecured interest coverage ratio of 1.50:1.00, (vi) a maximum consolidated leverage ratio of less than 60%, and (vii) a minimum net worth of $345 million plus 75% of all net proceeds raised through equity offerings subsequent to December 31, 2020. As of May 3, 2021, management believed it was in compliance with all of the financial and non-financial covenants contained in the Amended and Restated Credit Facility. In addition, on May 4, 2021, the Company entered into five forward starting interest rate swaps that will fix the LIBOR component on the term loan component of the Amended and Restated Credit Facility through May 2026. Currently, the Company’s interest rate swaps fix the LIBOR component of the term loan at a rate of 1.91% through August 2023. Subsequently, from August 2023 to August 2024 the LIBOR component of the term loan rate will be fixed at 1.61%. Finally, from August 2024 to May 2026 the LIBOR component of the term loan rate will be fixed at 1.45%.

Subsequent Events

3 Months Ended

Mar. 31, 2021

Note 10 – Subsequent Events

On May 3, 2021, the Company entered into the Amended and Restated Credit Facility to, among other things, (i) increase the overall capacity of the facility from $600 million to $750 million, consisting of a $400 million revolver component and a $350 million term loan component, (ii) convert the facility from a secured facility to an unsecured facility, (iii) extend the maturity of the revolver component to May 2025, with two six-month extension options, and extend the maturity of the term loan component to May 2026, and (iv) implement a new pricing matrix. The Amended and Restated Credit Facility also includes a $500 million accordion feature.

The Amended and Restated Credit Facility has a number of financial covenants, including, among other things, the following as of the end of each fiscal quarter, (i) a maximum consolidated unsecured leverage ratio of less than 60%, (ii) a maximum consolidated secured leverage ratio of less than 30%, (iii) a maximum consolidated secured recourse leverage ratio of less than 10%, (iv) a minimum fixed charge coverage ratio of 1.50:1.00, (v) a minimum unsecured interest coverage ratio of 1.50:1.00, (vi) a maximum consolidated leverage ratio of less than 60%, and (vii) a minimum net worth of $345 million plus 75% of all net proceeds raised through equity

offerings subsequent to December 31, 2020. As of May 3, 2021, management believed it was in compliance with all of the financial and non-financial covenants contained in the Amended and Restated Credit Facility.

In addition, on May 4, 2021, the Company entered into five forward starting interest rate swaps that will fix the LIBOR component on the term loan component of the Amended and Restated Credit Facility through May 2026. Currently, the Company’s interest rate swaps fix the LIBOR component of the term loan at a rate of 1.91% through August 2023. Subsequently, from August 2023 to August 2024 the LIBOR component of the term loan rate will be fixed at 1.61%. Finally, from August 2024 to May 2026 the LIBOR component of the term loan rate will be fixed at 1.45%.