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Sabra Health Care REIT, Inc. Announces Pricing Of $200 Million Senior Notes Offering By Certain Of Its Subsidiaries

IRVINE, Calif., May 20, 2013 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. ("Sabra") (Nasdaq:SBRA) today announced that certain subsidiaries of Sabra have priced and entered into an agreement to issue and sell, subject to certain conditions, $200 million aggregate principal amount of 5.375% senior notes due 2023 (the "Notes") pursuant to an effective registration statement filed on May 20, 2013 with the Securities and Exchange Commission (the "SEC"). Sabra expects to close the offering on May 23, 2013, subject to the satisfaction of customary market and other closing conditions.

The Notes will be fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and certain of Sabra's other existing and, subject to certain exceptions, future material subsidiaries. Sabra expects to use a portion of the net proceeds of the offering to redeem up to $113.75 million of the 8.125% Senior Notes due 2018 (the "2018 Notes") of certain of its subsidiaries. The 2018 Notes will be redeemable at a redemption price of 108.125% of the principal amount being redeemed, plus accrued and unpaid interest thereon to the date of redemption. Sabra expects to use the remainder of the net proceeds of the offering to fund future possible acquisitions and for general corporate purposes.  

In connection with the offering, BofA Merrill Lynch, Barclays, RBC Capital Markets, and Wells Fargo Securities are acting as joint book-running managers. Credit Agricole CIB and RBS Securities Inc. are acting as co-managers. You may obtain a copy of the prospectus supplement and the related prospectus for free by visiting EDGAR on the SEC website at www.sec.gov , or by contacting:

  • BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by e-mail at dg.prospectus_requests@baml.com;  
  • Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by  email at barclaysprospectus@broadridge.com, or by calling 888-603-5847;  
  • RBC Capital Markets, Three World Financial Center, 200 Vesey Street, 10th Floor, New York, New York 10281-8098, Attention: High Yield Capital Markets, or by calling 877-280-1299;  
  • Wells Fargo Securities, 550 South Tryon Street, 5th Floor, Charlotte, North Carolina 28202, Attention: Client Support, MAC D1086-070, or by calling 800-326-5897;  
  • Credit Agricole CIB, 1301 Avenue of the Americas, New York, New York 10019, or by calling 866-807-6030; or  
  • RBS Securities Inc., 600 Washington Blvd., Stamford, Connecticut 06901, Attn: Debt Capital Markets Syndicate, or by calling 866-884-2071.

This press release does not constitute an offer to sell or the 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. Any offer of the Notes will be made solely by means of the prospectus included in the registration statement and the prospectus supplement relating to the offering.

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