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Published on 9/18/2020 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Healthcare Realty to redeem 3.75% notes due 2023 via new notes

By Marisa Wong

Los Angeles, Sept. 18 – Healthcare Realty Trust Inc. plans to redeem its 3.75% senior notes due April 15, 2023 using proceeds from an offering of senior notes due 2031, according to a 424B5 filing with the Securities and Exchange Commission.

As of Sept. 15, the company had about $250 million of the 2023 notes outstanding.

The company estimates that the total amount to redeem the notes will be about $270.6 million, which includes accrued interest and a $20.5 million make-whole amount.

Remaining proceeds from the new notes will be used for general corporate purposes, which may include payments under the company’s unsecured credit facility, 2024 term loan and 2026 term loan.

Healthcare Realty is a Nashville-based real estate investment trust focused on real estate used to deliver outpatient health care.


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