A pair of Sabra Health Care REIT Inc. subsidiaries priced a $350.0 million offering of 3.900% senior unsecured notes due 2029.
The notes are being issued by Sabra Health Care LP and Sabra Capital Corp., subject to certain conditions.
The healthcare real estate investment trust said it plans to use a portion of the net proceeds to fully redeem the outstanding 5.375% senior notes due 2023, with the remaining funds going toward repayment of borrowings outstanding on its unsecured revolving credit facility.
Wells Fargo Securities LLC, Morgan Stanley & Co. LLC, SMBC Nikko Securities America Inc., BBVA Securities Inc., Fifth Third Securities Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. are the joint book-running managers for the offering, which is scheduled to close Oct. 7.
BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., KeyBanc Capital Markets Inc., RBC Capital Markets LLC, Regions Securities LLC, Stifel Nicolaus & Co. Inc., SunTrust Robinson Humphrey Inc. and The Huntington Investment Co. are co-managers.
