Published on 3/19/2013 in the Prospect News Investment Grade Daily.
New Issue: Healthcare Realty Trust prices $250 million 3.75% 10-year notes at 195 bps spread
By Andrea Heisinger
New York, March 19 - Healthcare Realty Trust Inc. priced $250 million of 3.75% 10-year notes (Baa3/BBB-/BBB-) on Tuesday at a spread of Treasuries plus 195 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.179 to yield 3.849%.
The bonds have a make-whole call at Treasuries plus 30 bps until Jan. 15, 2023 and a par call after that date.
J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the active bookrunners, while Credit Agricole Securities (USA) Inc. was a passive bookrunner.
Proceeds will be used to redeem senior notes due 2014, to repay outstanding borrowings under an unsecured credit facility and for general corporate purposes.
The real estate investment trust for outpatient health care services properties is based in Nashville, Tenn.
| Issuer: | Healthcare Realty Trust Inc.
|
| Issue: | Notes
|
| Amount: | $250 million
|
| Maturity: | April 15, 2023
|
| Bookrunners: | J.P. Morgan Securities LLC, Wells Fargo Securities LLC (active), Credit Agricole Securities (USA) Inc. (passive)
|
| Senior co-managers: | Barclays, BofA Merrill Lynch
|
| Co-managers: | U.S. Bancorp Investments Inc., Fifth Third Securities, Inc., BMO Capital Markets Corp., Scotia Capital (USA) Inc., PNC Capital Markets LLC, RBC Capital Markets LLC, BB&T Capital Markets LLC, Regions Securities LLC
|
| Coupon: | 3.75%
|
| Price: | 99.179
|
| Yield: | 3.849%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole at Treasuries plus 30 bps to Jan. 15, 2023, par call after
|
| Trade date: | March 19
|
| Settlement date: | March 26
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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