BioMed Realty, L.P. Prices $400 Million Offering Of 2.625% Senior Unsecured Notes Due 2019
SAN DIEGO, April 15, 2014 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that its operating partnership subsidiary, BioMed Realty, L.P., priced a public offering of $400 million aggregate principal amount of 2.625% Senior Notes due 2019 (the "Notes"). The Notes were priced at 99.408% of the principal amount to yield 2.752% to maturity. The Notes will be senior unsecured obligations of the operating partnership and will be fully and unconditionally guaranteed by BioMed Realty Trust, Inc. The offering is expected to close on April 23, 2014, subject to customary closing conditions.
The operating partnership intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes.
Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc. and U.S. Bancorp Investments, Inc. acted as Joint Book-Running Managers for the offering.
The registration statement relating to these securities has become effective by rule of the Securities and Exchange Commission. The offering was made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, by calling toll-free 1-800-503-4611 or by emailing prospectus.CPDG@db.com; or Wells Fargo Securities, LLC, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, by calling toll-free 1-800-326-5897 or by emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of such securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
About BioMed Realty Trust
BioMed Realty, with its trusted expertise and valuable relationships, delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 17.3 million rentable square feet.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions, developments and other investments, and the ability to refinance indebtedness as it comes due; failure to maintain the company's investment grade credit ratings with the ratings agencies; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with tax credits, grants and other subsidies to fund development activities; risks associated with downturns in foreign, domestic and local economies, changes in interest rates and foreign currency exchange rates, and volatility in the securities markets; ownership of properties outside of the United States that subject the company to different and potentially greater risks than those associated with the company's domestic operations; risks associated with the company's investments in loans, including borrower defaults and potential principal losses; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.