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Healthpeak lifts cap in tender for 4.25% notes to $250 million
By Wendy Van Sickle
Columbus, Ohio, June 9 – Healthpeak Properties, Inc. increased to $250 million the maximum tender amount in its cash tender offer for its 4.25% senior notes due 2022, according to a news release on Tuesday.
The company announced the tender offer earlier on Tuesday with an initial cap of $150 million.
There is $550 million principal amount of the notes outstanding.
Pricing of the tender offer will be at a fixed spread over Treasuries of 95 basis points, and there is an early tender premium of $30 if holders tender their notes prior to 5 p.m. ET on June 22. The tender offer overall expires at 12 a.m. ET on July 7 unless extended.
The pricing will be set at 10 a.m. ET on June 23 unless the tender is extended or terminated earlier. The settlement is expected to occur on June 24.
Wells Fargo Securities (704 410-4759 or 866 309-6316) and Barclays (212 528-7581 or 800 438-3242) are dealer managers for the tender offer.
Global Bondholder Services Corp. (866 470-4500 or 2www.gbsc-usa.com/healthpeak/) is the information agent.
The real estate investment trust is based in Irvine, Calif.
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