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Diversified Healthcare Trust Prices $500 Million of 4.375% Senior Notes due 2031
NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has priced an underwritten public offering of $500
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 $500 million of 4.375% Senior Notes due 2031, guaranteed by certain of DHC’s subsidiaries. The settlement of this offering is expected to occur on February 8, 2021, subject to customary closing conditions.\n\nDHC expects to use the net proceeds from this offering for general business purposes, including to redeem the $300 million principal amounts outstanding of its 6.75% Senior Notes due 2021 on or after June 15, 2021 (when such notes become redeemable without the payment of a premium) and to prepay in full its $200 million term loan.\n\nThe joint book-running managers for this offering were Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, BofA Securities, Inc., PNC Capital Markets LLC and RBC Capital Markets, LLC. The joint lead managers for this offering were BMO Capital Markets Corp., Regions Securities LLC and SMBC Nikko Securities America, Inc. The co-managers for this offering were Samuel A. Ramirez & Company, Inc., FHN Financial Securities Corp., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc. and UBS Securities LLC.\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. DHC and the guarantors have filed a registration statement including a prospectus and a preliminary prospectus supplement 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, Citigr...