Healthpeak Properties unit to sell additional 5.25% notes due 2032

By William Gullotti

Buffalo, N.Y., May 1 – Healthpeak OP LLC, a subsequent successor to old Healthpeak Properties, Inc., intends to price additional 5.25% notes due Dec. 15, 2032, according to a 424B5 filing with the Securities and Exchange Commission.

The offering will be guaranteed by another subsequent successor, Healthpeak Properties, Inc.

After settlement, the additional notes will be consolidated with the initial $400 million issued on Jan. 17 (Cusip: 42250PAE3) to form a single series with the same terms.

As with the initial issue, the tap will likewise feature a make-whole call at Treasuries plus 30 basis points until Sept. 15, 2032, followed by a par call.

Wells Fargo Securities, LLC, TD Securities (USA) LLC, Mizuho Securities USA LLC, Barclays and RBC Capital Markets, LLC are the joint bookrunning managers for the additional offering.

Bank of New York Mellon Trust Co., NA is the trustee.

Latham & Watkins LLP and Ballard Spahr LLP are working as legal counsel for Healthpeak. Sidley Austin LLP is advising the underwriters.

Proceeds will be used to repay a portion of the company’s outstanding commercial paper and for general corporate purposes, which may include repaying or repurchasing other debt, working capital, acquisitions, development activities and capital expenditures.

Based in Denver, Healthpeak is a real estate investment trust that owns and develops health care real estate within the United States.

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