Healthpeak prices tender for 3.4%, 4% notes, provides early results

By Devika Patel

Knoxville, Tenn., May 18 – Healthpeak Properties, Inc. priced its tender offer to purchase for cash up to $550 million of 3.4% senior notes due 2025 and 4% senior notes due 2025 and also provided the early tender results, according to a news release.

Pricing was determined at 10 a.m. ET on May 18.

For each $1,000 of 3.4% notes, the company will pay $1,085.31, which includes the early tender premium of $30.

For each $1,000 of 4% notes, the company will pay $1,115.70, which also includes the early tender premium of $30.

As of the early deadline of 5 p.m. ET on May 17, the company received the following amounts of tendered notes:

• $268,152,000 tendered and $251,806,000 accepted at a proration factor of 94% of the $600 million outstanding of 3.4% notes due 2025 (Cusip: 40414LAM1) with a target allocation of $250 million, priced using the 0.75% U.S. Treasury note due April 30, 2026 plus 5 basis points; and

• $298,194,000 tendered and all accepted of the $750 million outstanding of 4% senior notes due 2025 (Cusip: 40414LAN9) priced based on the 0.75% U.S. Treasury note due April 30, 2026 plus 5 bps.

Technically, the offers expire at 5 p.m. ET on June 2. However, since the offers were fully subscribed by the early deadline, no more notes will be accepted.

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.

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