Select Income REIT Prices $1.45 Billion of Unsecured Senior Notes
30 January 2015 - 10:09AM
Business Wire
Select Income REIT (NYSE: SIR) today announced that it has
priced an underwritten public offering of $350 million aggregate
principal amount of 2.85% unsecured senior notes due 2018, $400
million aggregate principal amount of 3.60% unsecured senior notes
due 2020, $300 million aggregate principal amount of 4.15%
unsecured senior notes due 2022 and $400 million aggregate
principal amount of 4.50% unsecured senior notes due 2025. The
settlement of the offering is expected to occur on February 3,
2015, subject to customary closing conditions.
SIR intends to use the net proceeds from this offering to repay
the $1.0 billion of borrowings outstanding under its bridge loan
facility and to reduce borrowings outstanding under its revolving
credit facility, both of which were used to fund, in part, its
acquisition of Cole Corporate Income Trust, Inc.
The joint book-running managers for the offering were BofA
Merrill Lynch, Citigroup, Jefferies, Morgan Stanley, RBC Capital
Markets and UBS Investment Bank.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that state or
jurisdiction. The offering was made under an effective shelf
registration statement previously filed by SIR with the Securities
and Exchange Commission and only by means of the prospectus
supplement and the accompanying prospectus. Copies of the
prospectus supplement and the accompanying prospectus may be
obtained by contacting BofA Merrill Lynch, 222 Broadway, New York,
NY 10038, Attn: Prospectus Department or by emailing
dg.prospectus_requests@baml.com; Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, calling toll free at (800) 831-9146 or by emailing
prospectus@citi.com; Jefferies LLC, Attn: Prospectus Department,
520 Madison Ave, 12th Floor, New York, NY 10022, calling toll free
at (877) 547-6340 or by email at
Prospectus_Department@Jefferies.com; Morgan Stanley & Co. LLC,
180 Varick Street, 2nd Floor, New York, New York 10014, Attention:
Prospectus Department; RBC Capital Markets, LLC, Three World
Financial Center, 200 Vesey Street, New York, New York 10281, Attn:
Debt Capital Markets, calling toll free at (866) 375-6829 or by
emailing usdebtcapitalmarkets@rbccm.com; or UBS Securities LLC, 299
Park Avenue, New York, New York 10171, Attention: Prospectus
Specialist, calling toll free at (877) 827-6444, ext. 561 3884.
Select Income REIT is a real estate investment trust, or REIT,
which owns properties that are primarily net leased to single
tenants. SIR is headquartered in Newton, MA.
WARNING CONCERNING
FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD
LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO,
WHENEVER SIR USES WORDS SUCH AS "BELIEVE", "EXPECT", "ANTICIPATE",
"INTEND", "PLAN", "ESTIMATE", OR SIMILAR EXPRESSIONS, SIR IS MAKING
FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON SIR'S PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR. SIR'S ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A
RESULT OF VARIOUS FACTORS. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
SETTLEMENT OF THIS OFFERING IS EXPECTED TO OCCUR ON FEBRUARY 3,
2015. THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS
CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING
AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT
SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS
OFFERING MAY NOT CLOSE.
THE INFORMATION CONTAINED IN SIR'S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION, OR SEC, INCLUDING UNDER "RISK FACTORS" IN
SIR'S PERIODIC REPORTS, OR INCORPORATED THEREIN, IDENTIFIES OTHER
IMPORTANT FACTORS THAT COULD CAUSE SIR'S ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE IN ITS FORWARD LOOKING STATEMENTS. SIR'S
FILINGS WITH THE SEC ARE AVAILABLE ON THE SEC'S WEBSITE AT
WWW.SEC.GOV.
YOU SHOULD NOT PLACE UNDUE RELIANCE UPON SIR'S FORWARD LOOKING
STATEMENTS.
EXCEPT AS REQUIRED BY LAW, SIR DOES NOT INTEND TO UPDATE OR
CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW
INFORMATION, FUTURE EVENTS OR OTHERWISE.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the New York
Stock Exchange.
No shareholder, Trustee or officer is
personally liable for any act or obligation of the Trust.
Select Income REITJason Fredette, 617-796-8320Director, Investor
Relationswww.sirreit.com
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