Sabra intends to sell notes due 2029 via three bookrunners

By Devika Patel

Knoxville, Tenn., Sept. 26 – Sabra Health Care LP and Sabra Capital Corp. plan to issue dollar-denominated senior notes due 2029, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call feature until three months prior to maturity and then are callable at par.

The bookrunners are Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America Inc.

BBVA Securities Inc., Fifth Third Securities Inc., Mizuho Securities USA Inc., MUFG and Scotia Capital (USA) Inc. are the co-managers.

Proceeds will be used to redeem all $200 million of Sabra’s 5.375% senior notes due 2023 and repay debt under the company’s revolver.

Sabra is an Irvine, Calif., real estate investment trust specializing in the health care sector.

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