This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Healthcare Realty Trust Announces Redemption Of Senior Notes Due April 1, 2014

Stocks in this article: HR

NASHVILLE, Tenn., March 19, 2013 /PRNewswire/ -- Healthcare Realty Trust Incorporated (NYSE: HR) today announced that it intends to redeem all of its outstanding 5.125% Senior Notes due April 1, 2014 (the "Notes") in accordance with the terms of the indenture governing the Notes. The Company will primarily use proceeds from the issuance of its senior notes due April 15, 2023, which are expected to close on March 26, 2013, subject to customary closing conditions, to fund the redemption and expects to record a one-time charge in the second quarter of 2013 of approximately $12.3 million for early extinguishment of debt.

The Company will redeem all of the Notes on April 18, 2013 (the "Redemption Date") at a redemption price equal to an aggregate of $277.3 million, consisting of: a) $264.7 million in outstanding principal; b) $0.7 million in interest accrued but not yet paid as of the Redemption Date; and c) a "make-whole amount" of $11.9 million in accordance with the indenture.

The redemption price for the Notes and accrued interest will become due and payable on the Redemption Date. Following that date, interest will cease to accrue and be payable and the Notes will be cancelled. Payment of the redemption price will be made only upon presentation and surrender of the Notes in the manner specified in the notice of redemption, which is being provided to registered holders of the Notes by Regions Bank, as trustee for the Notes. Copies of the applicable notice of redemption for the Notes may be obtained from Regions Bank by calling its Corporate Trust Department at 615.770.4354.

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing 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 $3.0 billion in 207 real estate properties and mortgages as of December 31, 2012. The Company's 202 owned real estate properties are located in 28 states and total approximately 13.6 million square feet.  The Company provides property management services to approximately 10.1 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, including the ultimate amount and terms at which the sale of the securities will occur, if any, and the use of proceeds from this offering. 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, 2012 under the heading "Risk  Factors." 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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs