Published on 3/14/2017 in the Prospect News High Yield Daily.
New Issue: Medical Properties Trust prices €500 million eight-year notes at par to yield 3.325%
By Paul A. Harris
Portland, Ore., March 14 – Medical Properties Trust, Inc. launched and priced a €500 million issue of eight-year senior notes at par to yield 3.325% on Tuesday, according to a market source.
Credit Agricole CIB and Goldman Sachs & Co. were the joint active bookrunners.
The Birmingham, Ala.-based health care focused real estate investment trust plans to use about €200 million of the proceeds to prepay and extinguish its €200 million of bank debt under its euro-denominated revolving credit and term loan facilities, €200 million to finance the remaining closings of the real estate assets being acquired from Median Kliniken Group Sarl, with remaining proceeds to be used for general corporate purposes, which may include investing in additional health care properties.
| Issuer: | Medical Properties Trust, Inc.
|
| Amount: | €500 million
|
| Maturity: | March 24, 2025
|
| Securities: | Senior notes
|
| Joint active bookrunners: | Credit Agricole CIB, Goldman Sachs & Co.
|
| Joint passive bookrunners: | Barclays, BBVA Securities Inc., Credit Suisse Securities (Europe) Ltd., J.P. Morgan Securities plc, BofA Merrill Lynch, Wells Fargo Securities International Ltd.
|
| Co-lead managers: | KeyBanc Capital Markets Inc., MUFG, RBC Europe Ltd., Scotiabank Europe plc, Stifel Nicolaus & Co. Inc., SunTrust Robinson Humphrey Inc.
|
| Coupon: | 3.325%
|
| Price: | Par
|
| Yield: | 3.325%
|
| Spread: | 266.6 bps
|
| Call: | Make-whole call at Bunds plus 50 bps until 90 days prior to maturity, then callable at par, otherwise non-callable
|
| Trade date: | March 14
|
| Settlement date: | March 24
|
| Distribution: | SEC registered
|
| Marketing: | Quick to market
|
© 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.
