New Issue: Senior Housing Properties Trust sells $500 million 4.75% 10-year notes at 98.312

By Cristal Cody

Tupelo, Miss., Feb. 8 – Senior Housing Properties Trust priced $500 million of 4.75% 10-year senior notes (Baa3/BBB-/) on Thursday at a spread of 210 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 98.312 to yield 4.966%.

BBVA Securities Inc., Mizuho Securities USA Inc., RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used to reduce debt under the company’s revolving credit facility.

Based in Newton, Mass., the real estate investment trust owns senior living communities, medical office buildings and wellness centers throughout the United States.

Issuer:	Senior Housing Properties Trust
Amount:	$500 million
Description:	Senior notes
Maturity:	Feb. 15, 2028
Bookrunners:	BBVA Securities Inc., Mizuho Securities USA Inc., RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities LLC
Lead managers:	Citigroup Global Markets Inc., BofA Merrill Lynch, Morgan Stanley	& Co. LLC, PNC Capital Markets LLC, Regions Securities LLC, SMBC Nikko Securities America,	Inc. and U.S. Bancorp Investments,	Inc.
Co-managers:	BB&T Capital Markets, BMO Capital Markets Corp., Fifth Third Securities,	Inc., FTN Financial	Securities Corp. and Samuel A. Ramirez	& Co.,	Inc.
Coupon:	4.75%
Price:	98.312
Yield:	4.966%
Spread:	Treasuries plus 210 bps
Make-whole call:	Before Aug. 15, 2027 at Treasuries plus 35 bps
Trade date:	Feb. 8
Settlement date:	Feb. 12
Ratings:	Moody’s: Baa3
	S&P: BBB-
Distribution:	SEC registered

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