Physicians Realty places $150 million; Korian issues €185.5 million Schuldscheindarlehen

By Lisa Kerner

Charlotte, N.C., Jan. 7 – Physicians Realty Trust privately placed four series of senior notes totaling $150 million.

The notes were sold as $15 million of 4.03% notes, series A, due 2023; $45 million of 4.43% notes, series B, due 2026; $45 million of 4.57% notes, series C, due 2028; and $45 million of 4.74% notes, series D, due 2031.

Proceeds will be used to repay borrowings under the company’s revolving credit facility and for general corporate purposes, according to a news release.

Milwaukee-based Physicians Realty is a self-managed health-care real estate investment trust.

Korian SA issued a €185.5 million Schuldscheindarlehen, upsized from €125 million, on Dec. 15.

The German private placement, along with available cash, was used to fund the company’s acquisition of Casa Reha GmbH, according to a news release.

The Schuldscheindarlehen has an average maturity of 6.1 years and a final yield of between 2% and 2.5%, depending on maturities.

Paris-based Korian manages nursing homes and specialist follow-up care and rehabilitation clinics.

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