Senior Housing Properties Trust Closes $350 Million Unsecured Term Loan
May 30 2014 - 4:01PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced the
closing of a $350 million unsecured term loan. The loan matures on
January 15, 2020 and is prepayable, without penalty, at any time.
The interest rate on the term loan will be at LIBOR plus 140 basis
points, subject to adjustments based on changes to SNH’s unsecured
debt ratings. SNH expects to use the net proceeds of the term loan
to repay amounts outstanding under its revolving credit facility,
to repay certain existing mortgage notes and for general business
purposes.
Jefferies Finance LLC and Wells Fargo Securities served as Joint
Lead Arrangers for the term loan, and banks participating in the
new loan are as follows:
Name of
Institution
Title
Wells Fargo Bank, N.A. Lead Arranger / Administrative Agent Royal
Bank of Canada Documentation Agent Citibank, N.A. Documentation
Agent PNC Bank, National Association Documentation Agent Mizuho
Bank, Ltd. Documentation Agent BBVA Compass Bank Documentation
Agent Regions Bank Documentation Agent RBS Citizens, N.A. Lender
Sumitomo Mitsui Banking Corporation Lender Bank Hapoalim Lender
Mega International Commercial Bank Co., Ltd. New York Branch Lender
Bank of Taiwan, Los Angeles Branch Lender First Tennessee Bank N.A.
Lender Land Bank of Taiwan Los Angeles Branch Lender First
Commercial Bank, New York Branch Lender
Senior Housing Properties Trust is a real estate investment
trust, or REIT, which owns independent and assisted living
communities, medical office buildings, nursing homes, and wellness
centers throughout the United States. SNH is headquartered in
Newton, MA.
WARNING CONCERNING FORWARD LOOKING
STATEMENTS
CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD
LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE
INCLUDE STATEMENTS REGARDING SNH’S EXPECTED USE OF NET PROCEEDS OF
THE TERM LOAN. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A
RESULT OF VARIOUS FACTORS AND SOME OF THESE FACTORS ARE BEYOND
SNH'S CONTROL. FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS
ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. YOU SHOULD NOT PLACE
UNDUE RELIANCE UPON SNH’S FORWARD LOOKING STATEMENTS. EXCEPT AS MAY
BE REQUIRED BY LAW, SNH DOES NOT INTEND TO UPDATE OR CHANGE ANY
FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE.
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.
Senior Housing Properties TrustKimberly M. Brown,
617-796-8234Director, Investor Relationswww.snhreit.com
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