EX-99.1 3 a14-14449_1ex99d1.htm EX-99.1

Exhibit 99.1

 

GRAPHIC

 

 

FOR IMMEDIATE RELEASE

 

 

Contact:

 

Kimberly M. Brown, Director, Investor Relations

 

(617) 796-8234

 

www.snhreit.com

 

 

Senior Housing Properties Trust Closes $350 Million Unsecured Term Loan

 

 

 

 

Newton, MA (May 30, 2014):  Senior Housing Properties Trust (NYSE: SNH) today announced the closing of a $350 million unsecured term loan.  The loan matures on January 15, 2020 and is prepayable, without penalty, at any time.  The interest rate on the term loan will be at LIBOR plus 140 basis points, subject to adjustments based on changes to SNH’s unsecured debt ratings.  SNH expects to use the net proceeds of the term loan to repay amounts outstanding under its revolving credit facility, to repay certain existing mortgage notes and for general business purposes.

 

 

Jefferies Finance LLC and Wells Fargo Securities served as Joint Lead Arrangers for the term loan, and banks participating in the new loan are as follows:

 

 

Name of Institution

Title

 

 

Wells Fargo Bank, N.A.

Lead Arranger / Administrative Agent

 

 

Royal Bank of Canada

Documentation Agent

 

 

Citibank, N.A.

Documentation Agent

 

 

PNC Bank, National Association

Documentation Agent

 

 

Mizuho Bank, Ltd.

Documentation Agent

 

 

BBVA Compass Bank

Documentation Agent

 

 

Regions Bank

Documentation Agent

 

 

RBS Citizens, N.A.

Lender

 

 

Sumitomo Mitsui Banking Corporation

Lender

 

 

Bank Hapoalim

Lender

 

GRAPHIC

 


 

 

Mega International Commercial Bank Co., Ltd. New York Branch

Lender

 

 

Bank of Taiwan, Los Angeles Branch

Lender

 

 

First Tennessee Bank N.A.

Lender

 

 

Land Bank of Taiwan Los Angeles Branch

Lender

 

 

First Commercial Bank, New York Branch

Lender

 

 

Senior Housing Properties Trust is a real estate investment trust, or REIT, which owns independent and assisted living communities, medical office buildings, nursing homes, and wellness centers throughout the United States.  SNH is headquartered in Newton, MA.

 

WARNING CONCERNING FORWARD LOOKING STATEMENTS

 

CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE INCLUDE STATEMENTS REGARDING SNH’S EXPECTED USE OF NET PROCEEDS OF THE TERM LOAN.  ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS AND SOME OF THESE FACTORS ARE BEYOND SNH’S CONTROL. FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR.  YOU SHOULD NOT PLACE UNDUE RELIANCE UPON SNH’S FORWARD LOOKING STATEMENTS.  EXCEPT AS MAY BE REQUIRED BY LAW, SNH DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

 

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