Sabra Health Care (SBRA) prices $800 million senior note offering.

Sabra Health Care REIT, Inc. (SBRA) announced that it has priced an offering of $800 million 3.200% senior notes due 2031.  The notes were priced at a discount to yield 3.323% or +200 basis points to the treasury curve.  Proceeds will be used to fund the early redemption of the company's $300 million 4.80% senior notes due 2024 and retire a $345 million term loan.  The note offering is expected to close on September 30, 2021.

Sabra Health Care is a mid-cap equity REIT focusing on the acquisition and ownership of senior living and skilled nursing facilities. As of June 30, 2021, SBRA had interests in 607 properties in 41 states and Canada, with 60% of investments in skilled nursing facilities, 28% senior housing, and 12% in specialty hospitals and other. SBRA is a member of the S&P MidCap 400 with a total market capitalization of approximately $6.3 billion.