Medical Properties Trust Announces Private Offering Of $450M Notes (MPW)

Medical Properties Trust, Inc. MPW announced today that its operating partnership, MPT Operating Partnership, L.P., a Delaware limited partnership, and MPT Finance Corporation are offering $450 million aggregate principal amount of senior notes due 2021 to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes will be senior unsecured obligations of the Issuers, guaranteed by the Company and by certain subsidiaries of the Operating Partnership. Contemporaneously with the closing of the offering of the Notes, the Operating Partnership intends to terminate its $150.0 million term loan and enter into an amendment to its existing credit agreement, which will govern an unsecured revolving credit facility that is expected to provide for at least $250.0 million of commitments with availability of up to $225.8 million after giving effect to borrowing base capacity and outstanding letters of credit at closing. The New Unsecured Credit Facility will be guaranteed by the Guarantors. The consummation of the offering of the Notes and the entry into the amendment to the existing credit agreement are conditioned upon each other.