By Rebecca Melvin
New York, Sept. 5 – Healthcare Trust of America Holdings, LP sold $900 million in two tranches of senior notes due 2026 and 2030 (Baa2/BBB) on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The company priced $250 million of 3.5% notes due 2026 at 103.66 to yield 2.889%, or a spread of Treasuries plus 133 basis points.
Healthcare Trust sold $650 million of 3.1% notes due 2030 at 99.658 to yield 3.139% and a Treasuries plus 158 bps spread.
The notes are guaranteed by Healthcare Trust of America, Inc.
The new notes, due in 2030, have a make-whole call and then a par call. The 3.5% notes have a make-whole call at Treasuries plus 35 bps until May 1, 2026 and then a par call.
BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the bookrunners.
Proceeds will be used to redeem all $300 million of the company's 3.375% senior notes due 2021 and all $400 million of its 2.95% senior notes due 2022, to repay debt under its unsecured revolving credit and term loan facility and for general corporate purposes.
Healthcare Trust of America is a Scottsdale, Ariz.-based real estate investment trust focused on medical office buildings.
| Issuer: | Healthcare Trust of America Holdings, LP
|
| Guarantor: | Healthcare Trust of America, Inc.
|
| Amount: | $900 million
|
| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Co-managers: | BMO Capital Markets Corp., Capital One Securities, Jefferies & Co., Morgan Stanley & Co. LLC and MUFG
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 16
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Distribution: | SEC registered
|
|
|
| 2026 notes
|
| Amount: | $250 million
|
| Maturity: | Aug. 1, 2026
|
| Coupon: | 3.5%
|
| Price: | 103.66
|
| Yield: | 2.889%
|
| Spread: | Treasuries plus 133 bps
|
| Call features: | Make-whole call at Treasuries plus 35 bps; on or after May 1, 2026 at par
|
|
|
| 2030 notes
|
| Amount: | $650 million
|
| Maturity: | Feb. 15, 2030
|
| Coupon: | 3.1%
|
| Price: | 99.658
|
| Yield: | 3.139%
|
| Spread: | Treasuries plus 158 bps
|
| Call features: | Make-whole call at Treasuries plus 25 bps; on or after Nov. 15, 2029 at par
|
© 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.
