Windrose Medical Properties Trust Completes $50 Million Private Placement of Trust Preferred Securities
27 Marzo 2006 - 8:00AM
PR Newswire (US)
INDIANAPOLIS, March 27 /PRNewswire-FirstCall/ -- Windrose Medical
Properties Trust (NYSE:WRS), a self-managed specialty medical
properties REIT, announced today that it has completed a $50
million private placement of trust preferred securities by Windrose
Capital Trust I, a Delaware statutory trust which is a wholly-owned
subsidiary of Windrose Medical Properties, L.P., the operating
partnership of Windrose. These securities will be treated as
unsecured long-term debt under Generally Accepted Accounting
Principles (GAAP) for tax purposes and therefore are not dilutive
to equity. The net proceeds from the private placement will be used
to repay debt and for general corporate purposes, including funding
future acquisitions. The $50 million of trust preferred securities
have an approximate 30 year term ending March 30, 2036. The trust
preferred securities require quarterly distributions of interest
only at a fixed interest rate of 7.22% per annum through March 30,
2011 and thereafter at a floating rate, reset quarterly, of 3-month
LIBOR plus 2.05%. The securities may be called at par by Windrose
any time after March 30, 2011. These securities were placed in a
private transaction exempt from registration under the Securities
Act of 1933, as amended. About Windrose Windrose is a self-managed
real estate investment trust (REIT) based in Indianapolis, Indiana
with offices in Nashville, Tennessee. Windrose was formed to
acquire, selectively develop and manage specialty medical
properties, such as medical office buildings, outpatient treatment
diagnostic facilities, physician group practice clinics, ambulatory
surgery centers, specialty hospitals, outpatient treatment centers
and other healthcare related specialty properties. Safe Harbor Some
of the statements in this news release constitute forward-looking
statements. Such statements include, in particular, statements
about our beliefs, expectations, plans and strategies that are not
historical facts and statements relating to the use of net proceeds
from the offering and the terms of the trust preferred securities..
You should not rely on our forward-looking statements because the
matters they describe are subject to known and unknown risks,
uncertainties, assumptions and changes in circumstances, many of
which are beyond our control, which may cause our actual results to
differ significantly from those expressed in any forward-looking
statement. The factors that could cause actual results to differ
materially from current expectations include our ability to deploy
the net proceeds from this offering, our ability to call the trust
preferred securities, financial performance and condition of our
tenants, adverse changes in healthcare laws, changes in economic
and general business conditions, competition for specialty medical
properties, our ability to finance our operations, the availability
of additional acquisitions, regulatory conditions and other factors
described from time to time in filings we make with the Securities
and Exchange Commission. The forward-looking statements contained
herein represent our judgment as of the date hereof and we caution
readers not to place undue reliance on such statements. We do not
undertake to publicly update or revise any forward-looking
statement whether as a result of new information, future events or
otherwise. Contact: Investors/Media: Windrose Medical Properties
The Ruth Group TrustFred Farrar Stephanie Carrington/Jason Rando
President and COO 646 536-7017/7025 317 860-8213 DATASOURCE:
Windrose Medical Properties Trust CONTACT: TrustFred Farrar,
President and COO, Windrose Medical Properties, +1-317-860-8213,
Investors-Media: Stephanie Carrington, +1-646-536-7017, , or Jason
Rando, +1-646-536-7025, , both of The Ruth Group, for Windrose
Medical Properties Trust
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