By Andrea Heisinger
New York, Dec. 8 - Healthcare Realty Trust Inc. priced an upsized $400 million of 5.75% 10-year notes on Wednesday at a spread of Treasuries plus 262.5 basis points, an informed source said late in the day.
The notes were sold in line with guidance in the 262.5 bps area, the source said.
The notes (Baa3/BBB-/BBB-) priced at 99.2 to yield 5.855%. They have a make-whole call at Treasuries plus 40 bps. The deal size was increased from $300 million.
Barclays Capital Inc. and UBS Securities LLC were the active bookrunners. Passive bookrunners were Credit Agricole Securities USA Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Keegan & Co. Inc. and Wells Fargo Securities LLC.
Co-managers were Fifth Third Securities Inc., SunTrust Robinson Humphrey Inc., BMO Capital Markets Corp. and Scotia Capital USA Inc.
Proceeds will be used to repay borrowings under an unsecured credit facility, to repay notes due 2011 at maturity and for general corporate purposes.
The real estate investment trust for outpatient health care services is based in Nashville, Tenn.
| Issuer: | Healthcare Realty Trust Inc.
|
| Issue: | Senior notes
|
| Amount: | $400 million, increased from $300 million
|
| Maturity: | Jan. 15, 2021
|
| Bookrunners: | Barclays Capital Inc., UBS Securities LLC (active), Credit Agricole Securities USA Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Keegan & Co. Inc., Wells Fargo Securities LLC (passive)
|
| Co-managers: | Fifth Third Securities Inc., SunTrust Robinson Humphrey Inc., BMO Capital Markets Corp., Scotia Capital USA Inc.
|
| Coupon: | 5.75%
|
| Price: | 99.2
|
| Yield: | 5.855%
|
| Spread: | Treasuries plus 262.5 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Price talk: | 262.5 bps area
|
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