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Diversified Healthcare Trust Prices $1 Billion of 9.750% Senior Notes due 2025
NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has priced an underwritten public offering of $1 billion
About this update from Diversified Healthcare Trust
[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nDiversified Healthcare Trust (Nasdaq: DHC) today announced that it has priced an underwritten public offering of $1 billion of 9.750% Senior Notes due 2025, guaranteed by certain of DHC’s subsidiaries. The settlement of this offering is expected to occur on June 2, 2020, subject to customary closing conditions.\n\n\nDHC expects to use the net proceeds from the offering to repay its $250 million term loan scheduled to mature in June 2020 and reduce amounts outstanding under its unsecured revolving credit facility.\n\n\nThe joint book-running managers for this offering were Wells Fargo Securities, LLC, Citigroup Global Markets Inc., PNC Capital Markets LLC and RBC Capital Markets, LLC. The joint lead managers for this offering were BofA Securities, Inc., BMO Capital Markets Corp., Mizuho Securities USA LLC, Regions Securities LLC and SMBC Nikko Securities America, Inc. The co-managers for this offering were Samuel A. Ramirez & Company, Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc. and UBS Securities LLC.\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. The issuer has filed a registration statement including a prospectus and will file a prospectus supplement with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement, when available, in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the prospectus supplement relating to this offering and the related prospectus may be obtained by contacting the offices of: Wells Fargo Securities, LLC toll-free at 1-800-645-3751, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, PNC Capital Markets LLC toll-free at 1-855-881-0697 or RBC Capital Markets, LLC toll-free at 1-866-375-6829.\n\n\nDiversified Healthcare Trust (Nasdaq: DHC) is a re...