EPR Properties sees tenders for $217.66 million 5.75% notes due 2022

By Marisa Wong

Los Angeles, Aug. 15 – EPR Properties said holders had tendered $217,661,000, or 62.19%, of its $350 million of outstanding 5.75% senior notes due 2022 as of 5 p.m. ET on Aug. 14, the expiration of its previously announced cash tender offer.

As announced on Aug. 8, EPR is offering to purchase any and all of its 5.75% notes due 2022 at $1,107.49 per $1,000 principal amount of notes.

Pricing was calculated using a fixed spread of 50 basis points plus the yield based on the bid-side price of the 1.75% U.S. Treasury note due July 15, 2022 at 2 p.m. ET on Aug. 14.

Holders will also receive accrued interest.

Settlement is expected on Aug. 15.

Global Bondholder Services Corp. (866 924-2200) is the tender agent and information agent. Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager for the offer.

The real estate investment trust for entertainment properties is based in Kansas City, Mo.

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