Medical PropertiesTrust Inc. said that MPT Operating Partnership LP and MPT Finance Corp.closed a public offeringof $500 million of 5.250% senior notes, generating roughly $492.8 million in netproceeds.
The notes, due Aug. 1, 2026, were priced with a 5.250% coupon. They will bear a 5.250% annualinterest rate in cash, which will be payable semiannually every Feb. 1 and Aug.1, starting Feb. 1, 2017.
The issuers used roughly $474.3 million of the net proceeds tosatisfy and discharge the entire $450 million aggregate principal amount of theirexisting 6.875% senior notes due 2021, including premium and any accrued and unpaidinterest. The balance of the net proceeds will go toward the repayment of borrowingsunder the operating partnership's revolving credit facility and for general corporatepurposes, which may include additional healthcare property investments.