NEWTON, Mass., Apr 06, 2010 (BUSINESS WIRE) -- Senior Housing Properties Trust (NYSE: SNH) today announced that it has
priced an underwritten public offering of $200 million of 6.75 %
unsecured Senior Notes due April 2020.
The settlement of this sale is expected to occur on April 9, 2010. SNH
intends to use the net proceeds of this offering to fund the redemption
of the approximately $97.5 million aggregate principal outstanding
amount of its 7 7/8% senior notes due 2015, to repay approximately $58.0
million in borrowings under its revolving bank credit facility and for
general business purposes.
The joint book-running managers for this offering are UBS Securities
LLC, Banc of America Securities LLC, Jefferies & Company, Inc. and Wells
Fargo Securities, LLC. The joint lead managers for this offering are
Citigroup Global Markets Inc., Morgan Keegan & Company, Inc., Morgan
Stanley & Co., Incorporated and RBC Capital Markets Corporation. The
co-managing underwriters for this offering are: BMO Capital Markets
Corp., BNY Mellon Capital Markets, LLC, Capital One Southcoast, Inc.,
Comerica Securities, Inc., Credit Agricole Securities (USA) Inc., Daiwa
Capital Markets America Inc., ING Financial Markets, LLC, PNC Capital
Markets, LLC, RBS Securities Inc., Scotia Capital (USA) Inc., SunTrust
Robinson Humphrey, Inc., TD Securities (USA) LLC and U.S. Bancorp
Investments, Inc.
This press release is not an offer to sell, nor a solicitation of an
offer to buy securities, 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 from the
office of UBS Securities LLC, Attention: Prospectus Specialist, 299 Park
Avenue, New York, New York 10171, (877) 827-6444 ext. 561-3884, from the
offices of Banc of America Securities LLC, 100 W. 33rd Street, 3rd
Floor, New York, New York 10001, Attention: Prospectus Department, (800)
294-1322, from the offices of Jefferies & Company, Inc., 520 Madison
Avenue, New York, New York 10022. (877)877-0696) or from the offices of
Wells Fargo Securities, LLC, Attention: Syndicate Operations, 1525 West
W.T. Harris Blvd., Charlotte, North Carolina 28262, at (800) 326-5897 or
email a request to prospectus.specialrequests@wachovia.com.
Senior Housing Properties Trust is a real estate investment trust which
owns independent and assisted living communities, nursing homes,
rehabilitation hospitals, wellness centers and medical office buildings
throughout the United States. SNH 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 FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON SNH'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE
IMPLICATIONS OF THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE, THIS PRESS
RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS
EXPECTED TO OCCUR ON APRIL 9, 2010. IN FACT, 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 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.
No shareholder, Trustee or officer is personally liable for any act
or obligation of the Trust.
SOURCE: Senior Housing Properties Trust
Senior Housing Properties Trust
Timothy A. Bonang, 617-796-8234
Vice President, Investor Relations
or
Elisabeth A. Heiss, 617-796-8234
Manager, Investor Relations
Copyright Business Wire 2010