Loan & DebtMay 7, 2026, 04:33 PM
Healthcare Realty Issues $700M 3.00% Exchangeable Senior Notes due 2032
AI Summary
Healthcare Realty Holdings, L.P., a subsidiary of Healthcare Realty Trust Incorporated, issued $700,000,000 aggregate principal amount of its 3.00% Exchangeable Senior Notes due 2032. This amount includes the full exercise of an option by initial purchasers for an additional $100,000,000. The Notes are fully and unconditionally guaranteed by Healthcare Realty Trust Incorporated and will accrue interest semi-annually. The filing also details the terms of the Notes, including exchangeability conditions and a related call option transaction.
Key Highlights
- Healthcare Realty Holdings, L.P. issued $700,000,000 aggregate principal amount of 3.00% Exchangeable Senior Notes due 2032.
- The Notes accrue interest at 3.00% per annum, payable semi-annually starting January 15, 2027.
- The Notes will mature on January 15, 2032, unless earlier repurchased, redeemed, or exchanged.
- The initial exchange rate is 43.4660 shares of common stock per $1,000 principal, at an initial exchange price of $23.01 per share.
- Healthcare Realty Trust Incorporated fully and unconditionally guaranteed the Notes on a senior, unsecured basis.
- The Issuer can redeem the Notes from January 22, 2030, if the common stock price exceeds 130% of the exchange price.
- A related call option transaction was entered into with a dealer to hedge potential dilution.
- The Notes and guarantee are senior, unsecured obligations, equal in right of payment with existing senior unsecured indebtedness.