By Paul A. Harris
St. Louis, July 19 - MPT Operating Partnership, LP, the operating company of Medical Properties Trust, Inc., announced late Tuesday that it has made a $65 million private placement of 10-year fixed-rate to floating-rate unsecured senior notes.
The notes will pay a fixed-rate coupon at 7.871% per year through July 30, 2011, after which the coupon will float at three-month Libor plus 230 basis points until maturity.
Medical Properties Trust, Inc. is a Birmingham, Ala.-based self-advised real estate investment trust formed to capitalize on the changing trends in health care delivery by acquiring and developing net-leased health care facilities.
No other terms were disclosed in the Tuesday press release, and the company did not respond to a request for more information from Prospect News.
| Issuer: | MPT Operating Partnership, LP (Medical Properties Trust, Inc.)
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| Amount: | $65 million
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| Maturity: | 2016
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| Security description: | Unsecured senior notes
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| Fixed-rate coupon: | 7.871% per year through July 30, 2011
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| Floating-rate coupon: | Three-month Libor plus 230 bps after July 30, 2011
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| Call protection: | Callable at par any time on or after July 30, 2011
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