Toronto, Ontario--(Newsfile Corp. - February 18, 2025) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT" or "Northwest") announced today that it has completed its previously announced offering (the "Offering") of $500 million aggregate principal amount of senior unsecured debentures in two series. The Offering included (i) $200 million of 5.019% Series A senior unsecured debentures due on February 18, 2028; and (ii) $300 million of 5.514% Series B senior unsecured debentures due on February 18, 2030 (collectively the "Debentures"). The Debentures were offered on an agency basis by a syndicate of agents co-led in each of the provinces of Canada by RBC Dominion Securities Inc. and Scotia Capital Inc including National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and TD Securities Inc.
The net proceeds of the Offering will be used by the REIT to repay outstanding indebtedness including the 10.0% convertible unsecured subordinated debentures due March 31, 2025. Morningstar DBRS assigned the Debentures a credit rating of BBB (low) with a stable trend.
The Debentures have not been registered under the United States Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States and, accordingly, may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Northwest
Northwest provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 171 income-producing properties and approximately 15.8 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australasia. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner to leading healthcare operators. For additional information please visit: www.nwhreit.com.
Contacts:
Craig Mitchell, CEO, Craig.Mitchell@nwhreit.com,
Stephanie Karamarkovic, CFO, Stephanie.Karamarkovic@nwhreit.com,
Alyssa Barry, Investor Relations, Alyssa.Barry@nwhreit.com, investors@nwhreit.com, (416) 366-2000 Ext. 2202
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. The forward-looking information in this news release includes statements regarding the strength of our high-quality international healthcare real estate and statements relating to the use of proceeds to reduce indebtedness. The REIT has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. These assumptions include, but are not limited to, the use of proceeds from the Debentures to repay indebtedness will occur as planned. Although the forward-looking statements contained in this news release are based on assumptions that management of the REIT believe are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the REIT's control, including, among other things, the risks that the deployment of the proceeds of the Offering will not occur as planned, as well as the business and industry risks identified in the REIT's annual information form and MD&A filed under the REIT's SEDAR+ profile at www.sedarplus.ca. The forward-looking statements in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated event.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241163
SOURCE: Northwest Healthcare Properties REIT
