Healthcare Realty Trust Announces Pricing of $400 Million Senior Unsecured Notes

Dec 08, 2010, 18:02 ET from Healthcare Realty Trust Incorporated

NASHVILLE, Tenn., Dec. 8, 2010 /PRNewswire-FirstCall/ -- Healthcare Realty Trust Incorporated (NYSE: HR) today announced that it has priced $400 million of 5.75% senior unsecured notes due 2021 at 99.20% of the principal amount.  Subject to customary closing conditions, the offering is expected to close on December 13, 2010.

The Company expects the proceeds from the offering will be used to repay, at maturity, the Company's 8.125% senior unsecured notes due May 1, 2011, to repay borrowings under its unsecured credit facility, and for other general corporate purposes.  

Barclays Capital Inc. and UBS Securities LLC served as Active Book-Running Managers for the offering. The offering is made pursuant to the Company's shelf registration statement on file with the Securities and Exchange Commission.  The offering is made solely by means of a prospectus supplement and accompanying prospectus. Credit Agricole Securities (USA) Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Keegan & Company, Inc., and Wells Fargo Securities, LLC were Passive Book-Running Managers.  Fifth Third Securities, Inc. and SunTrust Robinson Humphrey, Inc. served as Senior Co-Managers and BMO Capital Markets Corp. and Scotia Capital (USA) Inc. served as Co-Managers. Interested parties may obtain a prospectus supplement and accompanying prospectus relating to the senior notes offering from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, e-mail: or UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, telephone: 877-827-6444, ext. 561 3884.

This announcement shall 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 state in which such offer, solicitation, or sale would be unlawful under the securities laws of any such state.  

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States.  The Company had investments of approximately $2.4 billion in 209 real estate properties and mortgages as of September 30, 2010, excluding assets classified as held for sale and including an investment in one unconsolidated joint venture.  The Company's 202 owned real estate properties, excluding assets classified as held for sale, are comprised of six facility types, located in 28 states, totaling approximately 13.0 million square feet.  The Company provides property management services to approximately 9.0 million square feet nationwide.

In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2009 under the heading "Risk  Factors." and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company's judgment as of the date of this release.  The Company disclaims any obligation to update forward-looking material.

SOURCE Healthcare Realty Trust Incorporated