Senior Housing Properties Trust Prices $650 Million of Senior Notes
April 23 2014 - 5:41PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it has priced an underwritten public offering of $400 million
of 3.25% unsecured senior notes due May 1, 2019 and $250 million of
4.75% unsecured senior notes due May 1, 2024. The settlement of
this offering is expected to occur on April 28, 2014, subject to
customary closing conditions.
Senior Housing Properties Trust expects to use the proceeds of
this offering for general business purposes, including funding, in
part, the pending acquisition of two biotech medical office
buildings in Boston and may use a portion of the proceeds to repay
certain mortgage notes.
The joint book-running managers for this offering were
Citigroup, Jefferies, Morgan Stanley and Wells Fargo Securities.
The joint lead managers for this offering were BBVA, BofA Merrill
Lynch, PNC Capital Markets LLC, RBC Capital Markets, LLC, Regions
Securities LLC and UBS Investment Bank. The co-managers for this
offering were Capital One Securities, Comerica Securities, Mizuho
Securities, RBS, Santander, SMBC Nikko, TD Securities and US
Bancorp.
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. Copies of the prospectus supplement and the
accompanying prospectus may be obtained by calling Citigroup Global
Markets Inc. toll-free at (800) 831-9146, Jefferies LLC toll-free
at (877) 547-6340, Morgan Stanley & Co. LLC toll-free at (866)
718-1649 or Wells Fargo Securities, LLC toll-free at (800)
326-5897.
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 SENIOR HOUSING PROPERTIES TRUST’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 THIS OFFERING IS EXPECTED TO OCCUR ON APRIL 28, 2014.
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 DO NOT OCCUR, THIS OFFERING MAY NOT
CLOSE.
- SNH'S CURRENT INTENT TO USE THE
PROCEEDS FOR GENERAL BUSINESS PURPOSES THAT INCLUDE FUNDING, IN
PART, A PENDING ACQUISITION AND TO REPAY CERTAIN MORTGAGE NOTES
WILL BE DEPENDENT ON THE CLOSING OF THIS OFFERING AND MAY NOT
OCCUR.
- THIS PRESS RELEASE STATES THAT SNH HAS
PENDING THE ACQUISITION OF TWO BIOTECH MEDICAL OFFICE BUILDINGS IN
BOSTON. HOWEVER, THE PURCHASE AGREEMENT CONTAINS VARIOUS CLOSING
CONDITIONS AND THE CLOSING OF THE ACQUISITION COULD BE DELAYED OR
MAY NOT OCCUR AT ALL.
FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE
UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
Senior Housing Properties TrustKimberly M. Brown,
617-796-8234Director, Investor Relations
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