Senior Housing Properties Trust Prices $500 Million of 4.750% Senior Notes Due 2028
February 08 2018 - 5:34PM
Business Wire
Senior Housing Properties Trust (Nasdaq: SNH) today announced
that it has priced an underwritten public offering of $500 million
of 4.750% Senior Notes due 2028. The settlement of this offering is
expected to occur on February 12, 2018, subject to customary
closing conditions.
SNH expects to use the net proceeds from this offering to reduce
amounts outstanding under its unsecured revolving credit
facility.
The joint book-running managers for this offering were BBVA
Securities Inc., Mizuho Securities USA LLC, RBC Capital Markets,
LLC, UBS Securities LLC and Wells Fargo Securities, LLC. The joint
lead managers for this offering were Merrill Lynch, Pierce, Fenner
& Smith Incorporated, Citigroup Global Markets Inc., Morgan
Stanley & Co. LLC, PNC Capital Markets LLC, Regions Securities
LLC, SMBC Nikko Securities America, Inc. and U.S. Bancorp
Investments, Inc. The co-managers for this offering were BB&T
Capital Markets, a division of BB&T Securities, LLC, BMO
Capital Markets Corp., Fifth Third Securities, Inc., FTN Financial
Securities Corp. and Samuel A. Ramirez & Company, 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. Copies of the prospectus supplement relating to this
offering and the related prospectus may be obtained by contacting
the offices of: BBVA, 1345 Avenue of The Americas, 44th Floor, New
York, NY 10105 or by calling (800) 422-8692; Mizuho Securities,
Attention: Debt Capital Markets, 320 Park Avenue, New York, NY
10022 or by calling (866) 271-7403; RBC Capital Markets, Attention:
Transaction Management, 200 Vesey Street, 8th Floor, New York, NY
10281 or by calling (866) 375-6829; UBS Securities LLC, Attention:
Prospectus Department, 1285 Avenue of the Americas, New York, NY
10019 or by calling (888) 827-7275; and Wells Fargo Securities,
LLC, Attention: WFS Customer Service, 608 2nd Avenue South,
Minneapolis, MN 55042 or by calling (800) 645-3751.
Senior Housing Properties Trust is a real estate investment
trust, or REIT, which owns senior living communities, medical
office buildings and wellness centers throughout the United States.
SNH is managed by the operating subsidiary of The RMR Group Inc.
(Nasdaq: RMR), an alternative asset management company that 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 BELIEFS AND EXPECTATIONS, BUT THESE
STATEMENTS ARE NOT GUARANTEED AND THE IMPLICATIONS OF THESE
STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR
VARIOUS REASONS, SOME OF WHICH ARE BEYOND SNH’S CONTROL. FOR
EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON
FEBRUARY 12, 2018. 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 NET
PROCEEDS FROM THIS OFFERING TO REDUCE AMOUNTS OUTSTANDING UNDER ITS
UNSECURED REVOLVING CREDIT FACILITY IS DEPENDENT ON THE CLOSING OF
THIS OFFERING AND MAY NOT OCCUR.
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 Nasdaq.No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20180208006513/en/
Senior Housing Properties TrustBrad Shepherd,
617-796-8234Director, Investor Relations
Senior Housing Properties (NASDAQ:SNH)
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