Sabra Health to pay down revolver facility via preferred proceeds

By Tali David

Minneapolis, March 14 - Sabra Health Care REIT, Inc. plans to use the proceeds from its planned preferred stock offering to repay borrowings outstanding under its amended secured revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

As of Dec. 31, $92.5 million was outstanding under the facility.

The remaining proceeds will be used to fund possible future acquisitions or for general corporate purposes.

Jefferies LLC, BofA Merrill Lynch and Citigroup Global Markets Inc. are the joint bookrunners for the series A cumulative redeemable preferred stock offering.

Sabra Health Care is an Irvine, Calif.-based real estate investment trust that owns and invests in real estate properties for the health-care industry.

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