EPR Properties Plans $500 Mln Convertible Senior Notes Offering

(RTTNews) - Wednesday, EPR Properties (EPR) announced its intention to offer $500 million of convertible senior notes due 2032 in a private offering.

In addition, the company plans to grant the initial purchasers an option to purchase up to an additional $75 million in notes.

The company intends to use up to $75 million of the net proceeds to repurchase the company's common shares concurrently with the pricing of the offering in privately negotiated transactions effected through one of the initial purchasers of the notes or its affiliate.

Meanwhile, the remainder of the proceeds, along with cash on hand, will be used to repay $450 million of its 4.750% Senior Notes due 2026 upon maturity on December 15, 2026.

In pre-market hours, EPR was trading at $59.60, down 2.58 percent on the NYSE.