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Healthpeak receives tenders for $785.47 million notes from three series
By Taylor Fox
New York, Jan. 28 – Healthpeak Properties, Inc. announced the results of its separate tender offers to purchase for cash any and all of three series of notes totaling $1.45 billion, according to a news release.
As of the 5 p.m. ET Jan. 27 expiration, the following notes were validly tendered:
• $111,936,000 of the $300 million outstanding 4.25% senior notes due 2023 (Cusip: 40414LAJ8) at a price of $1,097.39 per $1,000 of notes, based on the 0.125% U.S. Treasury note due Aug. 15, 2023 and a fixed spread of 25 basis points;
• $200,848,000 of the $350 million outstanding 4.2% senior notes due 2024 (Cusip: 40414LAK5) at a price of $1,106.85 of $1,000 of notes, based on the 2.875% U.S. Treasury note due Nov. 30, 2023 and a fixed spread of 25 bps; and
• $469,124,0,00 of the $800 million outstanding 3.875% senior notes due 2024 (Cusip: 40414LAL3) at a price of $1,112.20 per $1,000 of notes, based on the 2.5% U.S. Treasury note due May 15, 2024 and a fixed spread of 25 bps.
In addition, $1,205,000 of the 4.25% notes, $1,702,000 of the 4.2% notes and $659,000 of the 3.875% notes were tendered under guaranteed delivery procedures.
Healthpeak plans to accept for purchase all notes tendered.
Healthpeak plans to use the proceeds from closed senior housing dispositions to pay the purchase price, plus accrued interest.
The settlement date is expected for Jan. 28, and the guaranteed delivery settlement date is expected for Feb. 1.
As previously reported, Healthpeak said it expects to redeem any securities that remain outstanding after the offers.
Credit Suisse Securities (USA) LLC (800 820-1653, 212 325-6340) and Credit Agricole Securities (USA) Inc. (866 807-6030, 212 261-7802) are the dealer managers.
Global Bondholder Services Corp. (866 470-4500, 212 430-3774) is the information and tender agent.
The real estate investment trust is based in Irvine, Calif.
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