Senior Housing to pay down revolver debt with some of notes’ proceeds

By Wendy Van Sickle

Columbus, Ohio, July 16 – Senior Housing Properties Trust plans to pay down debt under its revolving credit facility with some proceeds from an offering of senior notes due 2025, according to a filing with the Securities and Exchange Commission.

As of Wednesday, the trust had $585.5 million outstanding under its revolver, which bears interest at Libor plus 130 basis points. The facility matures in January 2018.

Proceeds from the note sale will also be used for general business purposes, including the pending acquisition of shares of Reit Management & Research Inc. and other potential acquisitions, according to the filing.

Senior Housing is a real estate investment trust based in Newton, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.