Diversified Healthcare Trust announced on September 15, 2025, that it has priced $375 million aggregate principal amount of 7.25% senior secured notes due October 2030. The closing of this offering is expected to occur on September 26, 2025, subject to customary closing conditions.
The new notes will be fully and unconditionally guaranteed on a joint, several, and senior secured basis by subsidiaries of DHC that own 36 real properties in the United States. They will also be guaranteed on an unsecured basis by all subsidiaries that currently guarantee DHC’s zero coupon Senior Secured Notes due 2026 and its 4.375% Senior Notes due 2031.
DHC expects to use the net proceeds from this offering to partially redeem approximately $307 million of its 2026 Notes at a redemption price equal to 100% of the principal amount. The company plans to use proceeds from additional asset sales, cash on hand, and its existing revolving credit facility to redeem the remainder of the 2026 Notes during the fourth quarter of 2025.
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