Senior Housing Properties’ 6.25% $25-par senior notes due 2046 admitted for trading on NYSE

By Stephanie N. Rotondo

Seattle, Feb. 22 – Senior Housing Properties Trust’s $250 million of 6.25% $25-par senior notes due Feb. 1, 2046 listed on the New York Stock Exchange, a market source reported on Monday.

The ticker is “SNHO.” The deal priced Feb. 10.

Initial price talk was 6.25% to 6.375%. The deal was upsized from $100 million.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities LLC, Citigroup Global Markets Inc. and RBC Capital Markets LLC were the joint bookrunners. Jeffries & Co. was joint lead manager, and BB&T Capital Markets, Janney Montgomery Scott LLC, Oppenheimer & Co. and FBR Capital Markets were the co-managers.

Interest is payable on a quarterly basis. The notes become redeemable on or after Jan. 21, 2021 at par plus accrued interest, according to the source.

Proceeds will be used to repay revolver borrowings and for general business purposes.

Senior Housing is a Newton, Mass.-based real estate investment trust.

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