Skip to main content

Healthcare Realty Trust Announces Redemption of $250 Million of Senior Notes Due 2023

Written by Customer Service on . Posted in Public Companies.

NASHVILLE, Tenn., Sept. 18, 2020 (GLOBE NEWSWIRE) — Healthcare Realty Trust Incorporated (NYSE: HR) today announced that it will redeem all of its outstanding 3.75% Senior Notes due 2023 (the “Notes”) in accordance with the terms of the indenture governing the Notes. The Company intends to use the net proceeds from the issuance of its 2.05% senior notes due 2031 to fund the redemption. The Company’s 2.05% senior notes due 2031 are expected to be issued on October 2, 2020, subject to customary closing conditions. The Company expects to record a charge in the fourth quarter of 2020 of approximately $21.5 million for early extinguishment of the Notes, which includes approximately $1.1 million of unamortized costs and discounts.
The Company will redeem the Notes on October 18, 2020 (the “Redemption Date”) at a redemption price equal to an aggregate of $270.5 million, consisting of: a) $250.0 million in outstanding principal; b) $0.1 million in interest accrued but not yet paid as of the Redemption Date; and c) a “make-whole amount” of $20.4 million in accordance with the indenture.The redemption price for the redeemed Notes will become due and payable on the Redemption Date. Following that date, interest will cease to accrue and be payable on the redeemed Notes and the redeemed Notes will be canceled. Payment of the redemption price will be made only upon presentation and surrender of the redeemed Notes in the manner specified in the notice of redemption, which is being provided to registered holders of the Notes by Truist Bank, formerly known as Branch Banking and Trust Company, as trustee for the Notes. Copies of the applicable notice of redemption for the redeemed Notes may be obtained from Truist Bank by calling its Corporate Trust Department at 252.246.4679.Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States.  As of June 30, 2020, the Company owned 210 real estate properties in 24 states totaling 15.5 million square feet and was valued at approximately $5.5 billion. The Company provided leasing and property management services to 12.0 million square feet nationwide.In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties, including the ability of the Company to close the sale of the securities, the use of proceeds from the offering of the securities, and the redemption of the Notes. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2019, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020, in each case, under the heading “Risk  Factors.” Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking material.Carla Baca
Associate Vice President, Investor Relations
P: 615.269.8175 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.