Senior Housing Properties Trust Prices $350 Million 5.625% Senior Notes Due 2042
NEWTON, Mass.--(BUSINESS WIRE)--
Senior Housing Properties Trust (NYSE: SNH) today announced that it has
priced an underwritten public offering of $350 million of 5.625%
unsecured senior notes due August 1, 2042. The settlement of this
offering is expected to occur on July 20, 2012. Senior Housing
Properties Trust intends to use the net proceeds from this offering to
prepay the variable portion of its Federal National Mortgage
Association, secured term loan which carries a current interest rate of
6.38% per annum, to repay amounts outstanding under its revolving credit
facility and for general business purposes, which may include funding
possible future acquisitions of properties.
The joint book-running managers for this offering were Citigroup,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
LLC, UBS Securities LLC, and Wells Fargo Securities, LLC. The joint lead
managers for this offering were Jefferies & Company, Inc., and RBC
Capital Markets, LLC.
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 toll-free at (800) 831-9146, Merrill Lynch, Pierce,
Fenner & Smith Incorporated toll-free at (800) 294-1322, or Morgan
Stanley & Co. LLC, toll-free at (866) 718-1649, UBS Securities LLC
toll-free at (877) 827-644, extension 561-3884 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
THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR
NOTES IS EXPECTED TO OCCUR ON JULY 20, 2012. 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.
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.
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
Senior Housing Properties Trust
Timothy A. Bonang, 617-796-8234
President, Investor Relations
Elisabeth A. Heiss,
Manager, Investor Relations
Source: Senior Housing Properties Trust
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