Healthpeak Properties tenders for up to $550 million of its $1.4 billion 3.4%, 4% notes

By Wendy Van Sickle

Columbus, Ohio, May 4 – Healthpeak Properties, Inc. commenced tender offers to purchase for cash up to $550 million of 3.4% senior notes due 2025 and 4% senior notes due 2025, according to a news release.

For the $650 million of 3.4% notes (Cusip: 40414LAM1) the company is targeting a redemption amount of $250 million and is offering a redemption price based on the 0.75% U.S. Treasury note due April 30, 2026 plus 5 basis points.

For the $750 million of 4% notes (Cusip: 40414LAN9) the company is targeting a redemption amount of $300 million and is also offering a redemption price based on the 0.75% U.S. Treasury note due April 30, 2026 plus 5 bps.

In each case, the company is also offering an early tender premium of $30 per $1,000 principal amount of notes to holders who tender by the early deadline, 5 p.m. ET on May 17.

The offers will expire at 5 p.m. ET on June 2.

Healthpeak said it may acquire more than the target allocation for a series but in no event will it purchase more than $550 million of notes.

Mizuho Securities USA LLC (212 205-7736 or 866 271-7403) and Goldman Sachs & Co. LLC (212 902-6351) are the dealer managers.

Global Bondholder Services Corp. (866 807-2200, 212 430-3774) is the information and tender agent.

The real estate investment trust is based in Irvine, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.