BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jul. 13, 2016--
Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) announced
today that its operating partnership, MPT Operating Partnership, L.P.
(the “Operating Partnership”), and MPT Finance Corporation, a
wholly-owned subsidiary of the Operating Partnership (“MPT Finance” and,
together with the Operating Partnership, the “Issuers”), intend to
offer, subject to market and other conditions, $500 million aggregate
principal amount of senior notes due 2026 (the “Notes”). The Notes will
be senior unsecured obligations of the Issuers, guaranteed by the
Company.
The Issuers intend to use approximately $474.3 million of the net
proceeds from the offering of the Notes to fund the redemption of all of
the $450 million aggregate principal amount of their existing 6.875%
Senior Notes due 2021, including premium and accrued and unpaid interest
thereon. The Issuers intend to use the remaining net proceeds to repay
borrowings made under the Operating Partnership’s revolving credit
facility and for general corporate purposes, which may include investing
in additional healthcare properties. Goldman, Sachs & Co., J.P. Morgan,
BofA Merrill Lynch, Barclays, Credit Agricole CIB, KeyBanc
Capital Markets, RBC Capital Markets, SunTrust Robinson Humphrey and
Wells Fargo Securities will act as joint book-running managers for the
offering of the Notes. BBVA, Credit Suisse, Deutsche Bank Securities,
MUFG and Stifel will act as co-lead managers.
The offering of the Notes will be made under an effective shelf
registration statement of the Company, the Operating Partnership and MPT
Finance. The Company intends to file a preliminary prospectus supplement
with the Securities and Exchange Commission (“SEC”) for the offering of
the Notes to which this communication relates. When available, the
preliminary prospectus may be obtained from Goldman, Sachs & Co., Attn:
Prospectus Department, 200 West Street, New York, NY 10282, telephone:
(212) 902-1171, email: prospectus-ny@ny.email.gs.com;
or from J.P. Morgan via Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or toll free at (866) 803-9204; or by
visiting the EDGAR database on the SEC’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 any securities of the Company or any of
its subsidiaries, nor shall there be any sale of any such securities 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.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a self-advised real estate investment
trust formed to capitalize on the changing trends in healthcare delivery
by acquiring and developing net-leased healthcare facilities. MPT’s
financing model allows hospitals and other healthcare facilities to
unlock the value of their underlying real estate in order to fund
facility improvements, technology upgrades, staff additions and new
construction. Facilities include acute care hospitals, inpatient
rehabilitation hospitals, long-term acute care hospitals, and other
medical and surgical 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, the Operating Partnership or MPT Finance or future events to
differ materially from those expressed in or underlying such
forward‐looking statements, including without limitation: the ability
of the Operating Partnership and MPT Finance to consummate the offering
of the Notes and the use of the proceeds therefrom; and the factors
referenced under the section captioned “Item 1A. Risk Factors” in the
combined annual report of the Company and the Operating Partnership on
Form 10-K for the year ended December 31, 2015 and in the combined
quarterly report of the Company and the Operating Partnership on Form
10-Q for the quarter ended March 31, 2016, which are incorporated by
reference into the preliminary prospectus supplement related to the
offering of the Notes. Actual results, performance or achievements may
vary materially from any projections and forward looking statements and
the assumptions on which those statements are based. Readers are
cautioned not to place undue reliance on forward-looking statements.
Except as otherwise required by the federal securities laws, the Company
undertakes no obligation to update the information in this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160713005742/en/
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Tim Berryman, 205-969-3755
Director
– Investor Relations
tberryman@medicalpropertiestrust.com