Sabra Health Care REIT, Inc. (SBRA) Monday priced an offering of $200 million aggregate principal amount of 5.375 percent 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. The 2018 notes will be redeemable at a redemption price of 108.125 percent.
The remainder portion of the proceeds will be available for future possible acquisitions and for general corporate purposes.
The offering is expected to close May 23, subject to the satisfaction of customary market and other closing conditions.
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