Senior Housing Properties Trust Prices $300 Million 6.75% Senior Notes Due 2021
December 05 2011 - 7:31PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it has priced an underwritten public offering of $300 million
aggregate principal amount of 6.75% unsecured Senior Notes due
December 15, 2021. The settlement of this offering is expected to
occur on December 8, 2011. SNH intends to use the net proceeds of
this offering to repay borrowings under its revolving credit
facility and for general business purposes, which may include
funding possible future acquisitions of properties or the repayment
of all or a portion of its outstanding 8 5/8% senior notes due
January 15, 2012.
The joint book-running managers for this offering are UBS
Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, RBC Capital Markets, LLC and Wells Fargo Securities,
LLC. The joint lead managers for this offering are Citigroup Global
Markets Inc., Jefferies & Company, Inc., Morgan Keegan &
Company, Inc. and Morgan Stanley & Co. LLC. The co-managing
underwriters for this offering are BB&T Capital Markets, a
division of Scott & Stringfellow, LLC, BNY Mellon Capital
Markets, LLC, Capital One Southcoast Inc., Comerica Securities,
Inc., Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets
LLC, RBS Securities Inc., SMBC Nikko Capital Markets Limited, TD
Securities (USA) LLC and U.S. Bancorp Investments, Inc.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, 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. The prospectus supplement relating to this offering
and the accompanying prospectus are expected to be filed with the
Securities and Exchange Commission and copies may be obtained by
calling UBS Securities LLC toll-free at (877) 827-6444, ext.
561-3884, Merrill Lynch, Pierce, Fenner & Smith Incorporated
toll-free at (800) 294-1322, RBC Capital Markets, LLC toll free at
(866) 375-6829 or Wells Fargo Securities, LLC toll-free at (800)
326-5897.
Senior Housing Properties Trust is a real estate investment
trust, or REIT, 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 SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON SNH’S PRESENT EXPECTATION, BUT THESE FORWARD LOOKING
STATEMENTS ARE NOT GUARANTEED.
FOR EXAMPLE, THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF
THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON DECEMBER 8, 2011.
IN FACT, THE SETTLEMENT OF THE 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 DO NOT OCCUR, THIS
OFFERING MAY NOT CLOSE.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO
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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