Senior Housing Properties Trust Prices $200 Million 6.75% Senior Notes Due 2020
April 06 2010 - 5:45PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it has priced an underwritten public offering of $200 million
of 6.75 % unsecured Senior Notes due April 2020.
The settlement of this sale is expected to occur on April 9,
2010. SNH intends to use the net proceeds of this offering to fund
the redemption of the approximately $97.5 million aggregate
principal outstanding amount of its 7 7/8% senior notes due 2015,
to repay approximately $58.0 million in borrowings under its
revolving bank credit facility and for general business
purposes.
The joint book-running managers for this offering are UBS
Securities LLC, Banc of America Securities LLC, Jefferies &
Company, Inc. and Wells Fargo Securities, LLC. The joint lead
managers for this offering are Citigroup Global Markets Inc.,
Morgan Keegan & Company, Inc., Morgan Stanley & Co.,
Incorporated and RBC Capital Markets Corporation. The co-managing
underwriters for this offering are: BMO Capital Markets Corp., BNY
Mellon Capital Markets, LLC, Capital One Southcoast, Inc., Comerica
Securities, Inc., Credit Agricole Securities (USA) Inc., Daiwa
Capital Markets America Inc., ING Financial Markets, LLC, PNC
Capital Markets, LLC, RBS Securities Inc., Scotia Capital (USA)
Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and
U.S. Bancorp Investments, Inc.
This press release is not an offer to sell, nor a solicitation
of an offer to buy securities, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that state or
jurisdiction. Copies of the prospectus supplement and the
accompanying prospectus may be obtained from the office of UBS
Securities LLC, Attention: Prospectus Specialist, 299 Park Avenue,
New York, New York 10171, (877) 827-6444 ext. 561-3884, from the
offices of Banc of America Securities LLC, 100 W. 33rd Street, 3rd
Floor, New York, New York 10001, Attention: Prospectus Department,
(800) 294-1322, from the offices of Jefferies & Company, Inc.,
520 Madison Avenue, New York, New York 10022. (877)877-0696) or
from the offices of Wells Fargo Securities, LLC, Attention:
Syndicate Operations, 1525 West W.T. Harris Blvd., Charlotte, North
Carolina 28262, at (800) 326-5897 or email a request to
prospectus.specialrequests@wachovia.com.
Senior Housing Properties Trust is a real estate investment
trust which owns independent and assisted living communities,
nursing homes, rehabilitation hospitals, wellness centers and
medical office buildings throughout the United States. SNH is
headquartered in Newton, MA.
WARNING REGARDING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS
ARE BASED UPON SNH'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND
THE IMPLICATIONS OF THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE,
THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR
NOTES IS EXPECTED TO OCCUR ON APRIL 9, 2010. IN FACT, THE
SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND
CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE
UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE
SPECIFIED CONTINGENCIES OCCUR, THIS OFFERING MAY NOT CLOSE. FOR
THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE UNDUE
RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment
Trust with transferable shares of beneficial interest listed on the
New York Stock Exchange.
No shareholder, Trustee or officer is
personally liable for any act or obligation of the Trust.
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