Physicians Realty Trust Completes $150 Million Private Placement of Senior Unsecured Notes
January 07 2016 - 4:15PM
Business Wire
Physicians Realty Trust (NYSE:DOC) (the “Company”) announced
today that it has completed a private placement of $150
million principal amount of senior unsecured notes. The notes
were sold in the following four series:
- $15,000,000 4.03% Senior Notes, Series
A, due January 7, 2023
- $45,000,000 4.43% Senior Notes, Series
B, due January 7, 2026
- $45,000,000 4.57% Senior Notes, Series
C, due January 7, 2028
- $45,000,000 4.74% Senior Notes, Series
D, due January 7, 2031
Proceeds from the issuance will be used to repay borrowings
under the Company's unsecured revolving credit facility and for
general corporate purposes following the completion of standard
post-closing conditions.
"We are pleased to complete the Company's first unsecured bond
offering, which will enhance our balance sheet with long-term fixed
rate debt," said John T. Thomas, President and CEO. "Our ability to
access this new source of capital will help us continue to execute
our disciplined growth strategy.”
About Physicians Realty Trust
Physicians Realty Trust is a self-managed healthcare real estate
company organized to acquire, selectively develop, own and manage
healthcare properties that are leased to physicians, hospitals and
healthcare delivery systems. The Company invests in real estate
that is integral to providing high quality healthcare. The Company
is a Maryland real estate investment trust and has elected to be
taxed as a REIT for U.S. federal income tax purposes. The Company
conducts its business through an UPREIT structure in which its
properties are owned by Physicians Realty L.P., a Delaware limited
partnership, directly or through limited partnerships, limited
liability companies or other subsidiaries.
Investors are encouraged to visit the Investor Relations portion
of the Company’s website (www.docreit.com) for additional
information, including annual reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and amendments to
those reports filed or furnished pursuant to Section 13(a) or 15(d)
of the Securities Exchange Act of 1934, as amended, press releases,
supplemental information packages and investor presentations.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”,
and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward looking statements may include
statements regarding the Company’s strategic and operational plans,
the Company’s ability to generate internal and external growth, the
future outlook, anticipated cash returns, cap rates or yields on
properties, anticipated closing of property acquisitions, and
ability to execute its business plan. While forward-looking
statements reflect our good faith beliefs, they are not guarantees
of future performance. Forward looking statements should not be
read as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by, which
such performance or results will be achieved. Forward looking
statements are based on information available at the time those
statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward looking statements. These forward-looking statements are
subject to various risks and uncertainties, not all of which are
known to the Company and many of which are beyond the Company’s
control, which could cause actual results to differ materially from
such statements. These risks and uncertainties are described in
greater detail in the Company’s filings with the Securities and
Exchange Commission (the "Commission"), including, without
limitation, the Company’s annual and periodic reports and other
documents filed with the Commission. Unless legally required, the
Company disclaims any obligation to update any forward-looking
statements after the date of this release, whether as a result of
new information, future events or otherwise. For a description of
factors that may cause the Company’s actual results or performance
to differ from its forward-looking statements, please review the
information under the heading “Risk Factors” included in each of
the Company’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2014 filed by the Company with the
Commission on March 12, 2015 and the Company's Quarterly
Report on Form 10-Q for the fiscal quarter ended September 30, 2015
filed by the Company with the Commission on November 9, 2015.
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version on businesswire.com: http://www.businesswire.com/news/home/20160107006337/en/
Physicians Realty TrustJohn T. Thomas, 414-367-5611President and
CEOorJeff Theiler, 414-367-5610Chief Financial Officer
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