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Sabra Health Care REIT creates up to $400M ATM offering program

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Capital Markets View – January 2021


Sabra Health Care REIT creates up to $400M ATM offering program

Sabra Health Care REIT Inc. plans to sell up to $400.0 million of its common stock in at-the-market offerings from time to time.

The healthcare real estate investment trust said it plans to contribute any net proceeds to Sabra Health Care LP. The operating partnership, in turn, aims to use the funds to repay debt, to fund future investments and/or for general corporate purposes.

The REIT on Dec. 11 signed an equity distribution agreement with Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Fifth Third Securities Inc., The Huntington Investment Co., Jefferies LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., Stifel Nicolaus & Co. Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC as agents for the sale of the shares.

Barclays Bank PLC, Bank of Montreal, Bank of America NA, Citibank NA, Crédit Agricole Corporate and Investment Bank, Jefferies, KeyBanc Capital Markets, Morgan Stanley, MUFG Securities EMEA PLC, Raymond James, Royal Bank of Canada, The Bank of Nova Scotia and Wells Fargo Bank NA are the forward purchasers under the agreement.