NEWTON, Mass.--(BUSINESS WIRE)--
Senior Housing Properties Trust (NYSE: SNH) today announced that it has
priced an underwritten public offering of $300 million aggregate
principal amount of 6.75% unsecured Senior Notes due December 15, 2021.
The settlement of this offering is expected to occur on December 8,
2011. SNH intends to use the net proceeds of this offering to repay
borrowings under its revolving credit facility and for general business
purposes, which may include funding possible future acquisitions of
properties or the repayment of all or a portion of its outstanding 8
5/8% senior notes due January 15, 2012.
The joint book-running managers for this offering are UBS Securities
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital
Markets, LLC and Wells Fargo Securities, LLC. The joint lead managers
for this offering are Citigroup Global Markets Inc., Jefferies &
Company, Inc., Morgan Keegan & Company, Inc. and Morgan Stanley & Co.
LLC. The co-managing underwriters for this offering are BB&T Capital
Markets, a division of Scott & Stringfellow, LLC, BNY Mellon Capital
Markets, LLC, Capital One Southcoast Inc., Comerica Securities, Inc.,
Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC, RBS
Securities Inc., SMBC Nikko Capital Markets Limited, TD Securities (USA)
LLC and U.S. Bancorp Investments, 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. The prospectus
supplement relating to this offering and the accompanying prospectus are
expected to be filed with the Securities and Exchange Commission and
copies may be obtained by calling UBS Securities LLC toll-free at (877)
827-6444, ext. 561-3884, Merrill Lynch, Pierce, Fenner & Smith
Incorporated toll-free at (800) 294-1322, RBC Capital Markets, LLC toll
free at (866) 375-6829 or Wells Fargo Securities, LLC toll-free at (800)
326-5897.
Senior Housing Properties Trust is a real estate investment trust, or
REIT, 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 SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
SNH'S PRESENT EXPECTATION, BUT THESE FORWARD LOOKING STATEMENTS ARE NOT
GUARANTEED.
FOR EXAMPLE, THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE
OF SENIOR NOTES IS EXPECTED TO OCCUR ON DECEMBER 8, 2011. IN FACT, THE
SETTLEMENT OF THE 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 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.
Senior Housing Properties Trust
Timothy A. Bonang, 617-796-8234
Vice
President, Investor Relations
or
Elisabeth A. Heiss,
617-796-8234
Manager, Investor Relations
Source: Senior Housing Properties Trust
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