Medical Properties Trust Announces Public Offering of $1,000,000,000 of Senior Notes
Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced that its operating partnership, MPT Operating Partnership, L.P. (the “Operating Partnership”), and MPT Finance Corporation, a wholly-owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “Issuers”), intend to offer, subject to market and other conditions, $1,000,000,000 aggregate principal amount of senior notes due 2031 (the “Notes”). The Notes will be senior unsecured obligations of the Issuers, guaranteed by the Company.
The Issuers intend to use (i) approximately $833.0 million of the net proceeds from the offering to fund the redemption of all of their $300.0 million aggregate principal amount of 5.50% Senior Notes due 2024 and $500.0 million aggregate principal amount of 6.375% Senior Notes due 2024, including accrued and unpaid interest thereon, required make-whole premiums, and related fees and expenses, and (ii) the remainder of the net proceeds from the offering for general corporate purposes, which may include repaying amounts outstanding from time-to-time under the revolving credit facility, working capital and capital expenditures, and potential future acquisitions.
Goldman Sachs & Co. LLC, Credit Agricole CIB, Wells Fargo Securities, Barclays, BBVA, BofA Securities, Credit Suisse, J.P. Morgan, KeyBanc Capital Markets, MUFG, RBC Capital Markets, Scotiabank, Stifel and Truist Securities will act as joint book running managers for the offering.
The offering will be made under an effective shelf registration statement of the Company, the Operating Partnership and MPT Finance previously filed with the Securities and Exchange Commission (“SEC”). When available, copies of the preliminary prospectus supplement, final prospectus supplement and the prospectus relating to the offering may be obtained by contacting Goldman Sachs & Co. LLC at 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: Prospectusfirstname.lastname@example.org; Credit Agricole CIB at 1301 Avenue of the Americas, New York, NY 10019, Attention: Fixed Income Syndicate, email: DCMNewYork@ca-cib.com; Wells Fargo Securities at 550 South Tryon Street, 5th Floor, Charlotte, NC 28202, Attention: Leveraged Syndicate, email: IBCMDCMLSHYLeveragedSyndicate@wellsfargo.com; or by visiting the SEC’s EDGAR public database at www.sec.gov.