Diversified Healthcare Trust (DHC) prices $500 million 10-year notes.

Diversified Healthcare Trust (DHC) announced today that it has priced an offering of $500 million 4.375% senior notes due 2031.  The notes carry expected ratings of Ba3/BB and were priced at 100%.  The company said that proceeds would be used to repay a $200 million term loan and provide funding for the redemption of DHC's $300 million 6.75% senior notes later this year.

Diversified Healthcare is an equity REIT focusing on private pay healthcare properties in the U.S. The company's current portfolio of 407 properties in 37 states is diversified by segment across senior housing (52% of investments), life science (23%) and medical office (22%). DHC has a total market capitalization of approximately $4.5 billion and is externally managed by The RMR Group Inc., an alternative asset management company.


02/03/2021