Select Income REIT Prices $350 Million of 4.250% Senior Notes Due 2024

05/10/2017

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that it has priced an underwritten public offering of $350 million of 4.250% senior unsecured notes due May 15, 2024 (“Notes”). SIR expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes. The settlement of this offering is expected to occur on May 15, 2017, subject to customary closing conditions.

The joint book-running managers for this offering were Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, BBVA Securities Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, Regions Securities LLC and U.S. Bancorp Investments, Inc. The joint lead managers for this offering were Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC. The co-managers for this offering were BB&T Capital Markets, a division of BB&T Securities, LLC, SMBC Nikko Securities America, Inc., Fifth Third Securities, Inc. and FTN Financial Securities Corp.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement relating to this offering and the related prospectus may be obtained by contacting the offices of: Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, telephone: (800) 294-1322 or by emailing dg.prospectus_requests@baml.com; RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, New York, NY 10281, Attention: Debt Capital Markets, telephone: (866) 375-6829 or email: rbcnyfixedincomeprospectus@rbccm.com; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275; and Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, telephone: (800) 645-3751 or email: wfscustomerservice@wellsfargo.com.

Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily leased to single tenants. SIR is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

WARNING CONCERNING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER SIR USES WORDS SUCH AS “BELIEVE”, “EXPECT”, “ANTICIPATE”, “INTEND”, “PLAN”, “ESTIMATE”, “WILL”, “MAY” AND NEGATIVES OR DERIVATIVES OF THESE OR SIMILAR EXPRESSIONS, SIR IS MAKING FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON SIR’S PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY SIR’S FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE NOTES OFFERING IS EXPECTED TO OCCUR ON MAY 15, 2017. THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
  • SIR’S CURRENT INTENT TO USE THE NET PROCEEDS FROM THIS OFFERING TO REPAY AMOUNTS OUTSTANDING UNDER ITS UNSECURED REVOLVING CREDIT FACILITY AND FOR GENERAL BUSINESS PURPOSES IS DEPENDENT ON THE CLOSING OF THIS OFFERING AND MAY NOT OCCUR.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Source: Select Income REIT

Select Income REIT

Christopher Ranjitkar, 617-796-8320

Director, Investor Relations

  • ICPE Award
  • U.S Green Building Council
  • Energy Star Partner
Cautionary Language

The information appearing in SIR’s website includes statements which constitute forward looking statements. These forward looking statements are based upon SIR’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. SIR’s actual results may differ materially from those contained in SIR’s forward looking statements. The information contained in SIR’s filings with the Securities and Exchange Commission (SEC), including under “Risk Factors” and “Warnings Concerning Forward Looking Statements” in SIR’s periodic reports and other filings, identifies important factors that could cause SIR’s actual results to differ materially from those stated or implied in SIR’s forward looking statements. SIR’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on SIR’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements. Except as required by law, SIR does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.

OK

Cautionary Language

Please note that you are about to view content from a third party website. SIR does not by its inclusion imply its endorsement of or concurrence with the data provided on this website.

OK

Notice

You are leaving this website.

Ok