NEWTON, Mass. -- (Business Wire)
Senior Housing Properties Trust (NYSE: SNH) today announced that it has
priced an underwritten public offering of $250 million of 6.25% senior
unsecured notes due February 1, 2046 (“Notes”).
SNH expects to use the net proceeds from this offering to repay amounts
outstanding under its revolving credit facility and for general business
purposes. The settlement of this offering is expected to occur on
February 18, 2016, subject to customary closing conditions. SNH granted
the underwriters an option to purchase up to $37.5 million of additional
Notes within 30 days. SNH intends to apply to list the Notes on the New
York Stock Exchange under the ticker “SNHO” and, if approved, expects
trading to begin within 30 days after the original issue date of the
Notes.
The joint book-running managers for the offering were Merrill Lynch,
Pierce, Fenner & Smith Inc., Morgan Stanley & Co. LLC, UBS Securities
LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., and RBC
Capital Markets LLC. The lead manager for the offering was Jefferies
LLC. The co-managers for the offering were BB&T Capital Markets, a
division of BB&T Securities LLC, FBR Capital Markets & Co., Janney
Montgomery Scott LLC and Oppenheimer & Co. 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 these offerings and the related
prospectus may be obtained by contacting the offices of: Merrill Lynch,
Pierce, Fenner & Smith Inc., Attn: Prospectus Department, 222 Broadway,
11th Floor, New York, NY 10038, email: dg.prospectus_requests@baml.com
or toll-free at (800) 294-1322; Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, telephone: (866) 718-1649; UBS Securities LLC, Attn:
Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019,
telephone: (888) 827-7275; Wells Fargo Securities, LLC, Attention: WFS
Customer Service, 608 2nd Avenue, South Minneapolis, MN
55042, email: wfscustomerservice@wellsfargo.com,
telephone: (800) 645-3751; Citigroup Global Markets Inc. c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (800) 831-9146; or RBC Capital Markets LLC, Three World
Financial Center, 200 Vesey Street, New York, NY 10281, Attn: Debt
Capital Markets or by calling (866) 375-6829 or by emailing usdebtcapitalmarkets@rbccm.com.
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. FOR EXAMPLE:
-
THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE NOTES OFFERING IS
EXPECTED TO OCCUR ON FEBRUARY 18, 2016. 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.
-
THIS PRESS RELEASE STATES THAT SNH HAS GRANTED THE UNDERWRITERS AN
OPTION TO PURCHASE UP TO $37.5 MILLION OF ADDITIONAL NOTES. AN
IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED
IN WHOLE OR IN PART. IN FACT, SNH DOES NOT KNOW WHETHER OR NOT THE
UNDERWRITERS WILL EXERCISE THIS OPTION OR ANY PART OF IT.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160210006711/en/
Contacts:
Senior Housing Properties Trust
Olivia Snyder, 617-796-8234
Investor
Relations Analyst
Source: Senior Housing Properties Trust
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