Loan & DebtMay 5, 2026, 07:01 AM
Healthcare Realty Prices Upsized $600M Exchangeable Senior Notes
AI Summary
Healthcare Realty Holdings, L.P. priced an upsized private offering of $600 million aggregate principal amount of 3.00% exchangeable senior notes due 2032, guaranteed by Healthcare Realty Trust Incorporated. The offering size was increased from the initially announced $500 million, with settlement scheduled for May 7, 2026. The notes have an initial exchange price of approximately $23.01 per share, representing a 17.5% premium over the last reported stock price. Net proceeds of approximately $582.6 million will be used to fund capped call transactions, repurchase $75 million of common stock, and repay outstanding 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 exchange price of approximately $23.01 per share, a 17.5% premium.
- Net proceeds estimated at $582.6 million (or $680.1 million if option exercised).
- $24.0 million of proceeds to fund capped call transactions.
- Approximately $75.0 million to repurchase 3.83 million shares of common stock.
- Remainder of proceeds to repay 3.500% Senior Notes due 2026.
- Capped call transactions cap price at approximately $27.41 per share (40.0% premium).
Price Impact
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