This strategic combination is the second largest completed US transaction in Q3. The combined company will trade on the NYSE under the ticker symbol HR and will be included in the S&P MidCap 400 Index.
McDermott also represented HTA in connection with three related transactions that closed on July 20, 2022 and July 22, 2022:
A $1.125 billion term loan with JP Morgan, the proceeds of which were used to finance the merger consideration;
A $3 billion credit facility with Wells Fargo, the proceeds of which were used to pay off pre-merger outstanding debt and to provide capital for the combined company; and
A senior note exchange offer in which legacy HR notes were exchanged for notes of the combined company.
The combination brings together the two largest owners of medical office buildings to create the preeminent, pure-play medical office building REIT in the US.
Read Healthcare Trust of America and Healthcare Realty Trust’s combined press release here.
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