CareTrust to repay some revolver debt via new notes issue due 2025

By Susanna Moon

Chicago, May 8 – CareTrust REIT, Inc. plans to repay debt under the company’s revolving credit facility and redeem some notes using proceeds of new notes issued by wholly owned subsidiaries CTR Partnership, LP and corporate co-issuer CareTrust Capital Corp.

CTR and CareTrust plan to price $300 million principal amount of senior notes due 2025 in an underwritten public offering, according to a company announcement.

The issuers also plan to redeem their 5 7/8% senior notes due with any remaining proceeds slated to repay debt under the company’s revolving credit facility and for general corporate purposes, including acquisitions.

Columbia, Md.-based CareTrust is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of health-care-related properties.

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