Sabra Health Care REIT, Inc. (SBRA) Monday announced offering of $200 million aggregate principal amount of senior notes due 2023.
Sabra intends to use a portion of the net proceeds of the offering to redeem up to $113.75 million of the 8.125 percent senior notes due 2018 of certain of its subsidiaries.
The 2018 notes will be redeemable at a redemption price of 108.125 percent of the amount being redeemed, plus accrued and unpaid interest thereon to the date of redemption.
The remainder of the proceeds of the offering will be available to fund future possible acquisitions and for general corporate purposes.
The notes will be fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and its subsidiaries.
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