BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 15, 2013--
Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) announced
today that the previously announced public offering of $150 million
aggregate principal amount of 6.375% senior notes due 2022 (the “Notes”)
by its operating partnership, MPT Operating Partnership, L.P., a
Delaware limited partnership (the “Operating Partnership”), and MPT
Finance Corporation, a Delaware corporation and wholly-owned subsidiary
of the Operating Partnership (“MPT Finance,” and together with the
Operating Partnership, the “Issuers”), priced today at an issue price of
102.00%, which represents a yield to the par redemption date of February
15, 2020 of 5.998%. The Notes will be senior unsecured obligations of
the Issuers, guaranteed by the Company and by certain subsidiaries of
the Company, and will form a part of the same series as the Issuers’
6.375% senior notes due 2022, issued February 17, 2012, $200 million of
which are currently outstanding.
The Operating Partnership intends to use the net proceeds from the
offering of the Notes to fund a portion of its previously announced
acquisition of three general acute care hospitals from IASIS Healthcare
LLC. Pending closing of the acquisition, the Operating Partnership
intends to use the net proceeds from the offering of the Notes to repay
borrowings under its revolving credit facility and to invest in
short-term, liquid investments. If the acquisition is not completed, the
Operating Partnership intends to use the net proceeds from the offering
of the Notes to repay borrowings under its revolving credit facility and
for general corporate purposes, which may include investing in
additional healthcare properties. The consummation of the offering of
the Notes is not contingent upon the closing of the acquisition or the
Company’s concurrent offering of its common stock.
J.P. Morgan, BofA Merrill Lynch, Deutsche Bank Securities and RBC
Capital Markets are acting as joint book-running managers, and KeyBanc
Capital Markets is acting as lead manager for the offering.
The offering of the Notes is expected to close on or about August 20,
2013, subject to certain closing conditions. The offering of the Notes
was made under an effective shelf registration statement of the Company,
the Issuers and certain subsidiaries of the Company as guarantors and a
related preliminary prospectus supplement and free writing prospectus.
The Company intends to file a final prospectus supplement with the
Securities and Exchange Commission for the offering of the Notes to
which this communication relates. When available, the final prospectus
supplement may be obtained from J.P. Morgan Securities LLC, 383 Madison
Avenue, 3rd Floor, New York, NY 10179, Attn: High Yield Syndicate or
from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn:
Prospectus Department or by visiting the EDGAR database on the
Securities and Exchange Commission’s web site at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any sale
of the Notes in any jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering of Notes may be
made only by means of a preliminary prospectus, each of which has or
will be filed with the Securities and Exchange Commission.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama based
self-advised real estate investment trust formed to capitalize on the
changing trends in healthcare delivery by acquiring and developing
net-leased healthcare facilities. These facilities include inpatient
rehabilitation hospitals, long-term acute care hospitals, regional acute
care hospitals, ambulatory surgery centers and other single-discipline
healthcare facilities.
The statements in this press release that are forward looking are
based on current expectations and actual results or future events may
differ materially. Words such as “expects,” “believes,” “anticipates,”
“intends,” “will,” “should” and variations of such words and similar
expressions are intended to identify such forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results of the
Company or future events to differ materially from those expressed in or
underlying such forward-looking statements, including without
limitation, the Company’s ability to consummate the offering of the
Notes and the use of the proceeds therefrom. For further discussion of
the factors that could affect outcomes, please refer to the “A Warning
About Forward Looking Statements” and “Risk Factors” sections of the
Company’s Annual Report on Form 10-K for the year ended December 31,
2012 and our other Securities and Exchange Commission filings and the
“Risk Factors” sections contained in the preliminary prospectus
supplement and final prospectus supplement related to the Notes. Except
as otherwise required by the federal securities laws, the Company
undertakes no obligation to update the information in this press release.
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Charles Lambert, 205-397-8897
Managing
Director – Capital Markets
clambert@medicalpropertiestrust.com