Medical Properties Trust Announces Pricing of $1,300,000,000 3.500% Senior Notes Due 2031

Nachrichtenquelle: Business Wire (engl.)
20.11.2020, 00:35  |  155   |   |   

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced the pricing of the previously announced public offering of notes to be issued by 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”). The notes will mature on March 15, 2031 and priced with a coupon of 3.500%. Interest on the notes will be payable semi-annually in arrears commencing on March 15, 2021. The notes will be senior unsecured obligations of the Issuers, guaranteed by the Company. The offering is expected to close on December 4, 2020, subject to customary closing conditions.

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 5.500% 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 Corporation 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: Prospectus-ny@ny.email.gs.com; 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.

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Medical Properties Trust Announces Pricing of $1,300,000,000 3.500% Senior Notes Due 2031 Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced the pricing of the previously announced public offering of notes to be issued by its operating partnership, MPT Operating Partnership, L.P. (the “Operating …

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