Loan & DebtMay 5, 2026, 06:43 AM
Healthcare Realty Prices $600M Exchangeable Senior Notes Due 2032
AI Summary
Healthcare Realty Holdings, L.P., the operating partnership of Healthcare Realty Trust, priced an upsized offering of $600 million in 3.00% exchangeable senior notes due 2032. The offering size was increased from $500 million, with an option for initial purchasers to buy an additional $100 million. Net proceeds, estimated at $582.6 million, will be used to fund capped call transactions, repurchase approximately 3.83 million shares for $75 million, and repay existing 3.500% Senior Notes due 2026.
Key Highlights
- Priced $600 million aggregate principal amount of 3.00% exchangeable senior notes due 2032.
- Offering size increased from previously announced $500 million.
- Initial purchasers have option to buy up to an additional $100 million in notes.
- Net proceeds estimated at $582.6 million (or $680.1 million if option exercised).
- $75 million of proceeds to repurchase approximately 3.83 million shares.
- Remainder of proceeds to repay 3.500% Senior Notes due 2026.
- Initial exchange price of $23.01 per share, a 17.5% premium over May 4 closing price.
- Capped call transactions entered into with a cap price of $27.41 per share.
Price Impact
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