Senior Housing to repay revolver borrowings with common shares proceeds

By Sara Rosenberg

New York, Feb. 5 - Senior Housing Properties Trust plans to repay borrowings under its revolving credit facility using proceeds from the sale of 5.5 million common shares, according to a 424B5 filed with the Securities and Exchange Commission on Thursday.

The sale is expected to generate net proceeds of $90.94 million, or $104.62 million if the underwriters exercise their over-allotment option in full.

Remaining proceeds will be used for general business purposes, including funding in part the pending acquisitions or possible future acquisitions of properties.

Senior Housing is a Newton, Mass.-based real estate investment trust that primarily invests in senior housing properties.

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