Published on 6/30/2021 in the Prospect News Green Finance Daily and Prospect News Investment Grade Daily.
New Issue: Healthpeak sells $450 million 1.35% green notes due February 2027 at 50 bps spread
By Devika Patel
Knoxville, Tenn., June 30 – Healthpeak Properties, Inc. priced $450 million of 1.35% green senior notes due Feb. 1, 2027 (Baa1/BBB+/BBB+) at a spread of 50 basis points over Treasuries on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.877 to yield 1.373%.
Wells Fargo Securities LLC, Credit Agricole CIB, J.P. Morgan Securities LLC, RBC Capital Markets LLC, Scotia Capital (USA) Inc., PNC Capital Markets LLC, Regions Securities LLC, SMBC Nikko Securities America Inc., TD Securities (USA) LLC, Truist Securities Inc. and U.S. Bancorp Investments Inc. are the bookrunners.
Proceeds will be used for eligible green projects.
Based in Irvine, Calif., Healthpeak is a real estate investment trust that owns and develops health care real estate within the United States.
| Issuer: | Healthpeak Properties, Inc.
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| Amount: | $450 million
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| Maturity: | Feb. 1, 2027
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| Securities: | Green senior notes
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| Bookrunners: | Wells Fargo Securities LLC, Credit Agricole CIB, J.P. Morgan Securities LLC, RBC Capital Markets LLC, Scotia Capital (USA) Inc., PNC Capital Markets LLC, Regions Securities LLC, SMBC Nikko Securities America Inc., TD Securities (USA) LLC, Truist Securities Inc. and U.S. Bancorp Investments Inc.
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| Co-managers: | BNY Mellon Capital Markets LLC, Huntington Investment Co. and KeyBanc Capital Markets Inc.
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| Coupon: | 1.35%
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| Price: | 99.877
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| Yield: | 1.373%
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| Spread: | Treasuries plus 50 bps
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| Call features: | Make-whole call at Treasuries plus 10 bps until Jan. 1, 2027; thereafter at par
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| Trade date: | June 30
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| Settlement date: | July 12
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| Ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Fitch: BBB+
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| Distribution: | SEC registered
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