Latham & Watkins Advises Healthcare Realty in US$600 Million Exchangeable Senior Notes Offering

Healthcare Realty Trust Incorporated (NYSE: HR) has announced that its operating partnership, Healthcare Realty Holdings, L.P., priced an upsized private offering of US$600 million aggregate principal amount of 3.00% exchangeable senior notes due 2032. The offering size was increased from the previously announced US$500 million. Healthcare Realty expects to use the net proceeds for capped call transactions, share repurchases, and the repayment of outstanding indebtedness, among other general corporate purposes. In connection with the offering, Healthcare Realty also entered into capped call transactions designed to reduce potential dilution upon exchange of the notes.

Latham & Watkins LLP advised Healthcare Realty in the transaction with a Capital Markets team led by partners Lewis Kneib and Julian Kleindorfer, and counsel Devon MacLaughlin, with associates Will Coughlin and Alondra Tlatelpa. Advice was provided on structured products matters by partners Greg Rodgers and Arash Aminian Baghai, with associates Andrew Bentz and Steve Hess; on derivatives matters by partner Catherine Lee, with associate Adam Zhang and with assistance from Kyle Persaud; and on tax matters by partner Elena Romanova, with associate Farrah Yan and with assistance from Ethan Lee.