Medical Properties Trust Announces Pricing Of $150 Mln Senior Notes Offering

(RTTNews) - Medical Properties Trust, Inc. (MPW) said Thursday that the previously announced public offering of $150 million aggregate principal amount of 6.375% senior notes due 2022 by its operating partnership, MPT Operating Partnership, L.P., and MPT Finance Corp., a wholly-owned subsidiary of the Operating Partnership, priced at an issue price of 102.00%, which represents a yield to the par redemption date of February 15, 2020 of 5.998%.

The Operating Partnership plans 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 plans 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 plans 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.