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,
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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.
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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.
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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.
Copyright Business Wire 2014