Senior Housing to repay revolver debt with proceeds of note offering

By Wendy Van Sickle

Columbus, Ohio, Feb. 10 – Senior Housing Properties Trust plans to repay borrowings under its revolving credit facility with some proceeds of an offering of senior notes due 2046, according to a 424B5 filing with the Securities and Exchange Commission.

The revolver matures in January 2018 and bears interest at Libor plus 130 basis points.

As of Tuesday, Senior Housing had $775 million outstanding under the facility. The borrowings were used to fund acquisitions, to prepay some senior notes and some mortgage debt and for general business purposes.

Additional proceeds of the new note offering may also be used for general corporate purposes.

The real estate investment trust for senior living properties is based in Newton, Mass.

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