Diversified Healthcare Trust (DHC), a real estate investment trust focused on healthcare properties, said on Tuesday that it has priced $375 million aggregate principal amount of 7.25% senior secured notes due October 2030. The offering is expected to close on September 26.
DHC expects to use the net proceeds from the offering to partially redeem around $307 million of the 2026 notes at a redemption price equal to 100% of the principal amount being redeemed on September 26, 2025. The company will also use the proceeds to pay related fees and expenses associated with such redemption and for general business purposes.
The Trust aims to use proceeds from asset sales, cash on hand, and debt to redeem the remainder of the 2026 notes in the fourth quarter of 2025.
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