Newton’s Senior Housing Properties Trust (SNH) has commenced a public offering of 10 million common shares.
SNH expects to use the proceeds of the offering to repay amounts outstanding under its revolving credit facility and for general business purposes, including funding acquisitions. The underwriters are expected to grant a 30-day option to purchase up to an additional 1.5 million common shares to cover overallotments, if any.
The joint book-running managers for this offering are Jefferies & Co. Inc., BofA, Merrill Lynch and Morgan Stanley. The co-lead managers for the offering are Citi, Morgan Keegan, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities. The co-managers for this offering are BB&T Capital Markets, Janney Montgomery Scott LLC and Oppenheimer & Co.





