Medical Properties Trust closes underwritten public offering of common stock

Apr 23 2010

Medical Properties Trust, Inc. (the "Company") (NYSE: MPW) announced today that it closed the sale of its previously announced underwritten public offering of shares of common stock, which included 26 million shares of common stock issued on April 20, 2010 and 3.9 million shares of common stock issued on April 22, 2010 pursuant to the exercise in full of the underwriters' over-allotment option.

The Company received approximately $279 million from the offering after deducting the underwriting discounts and commissions. The Company intends to use the net proceeds from the offering to fund its concurrent tender offer for any and all of the outstanding 6.125% exchangeable senior notes due 2011 of the Company's operating partnership, MPT Operating Partnership, L.P. The Company intends to use any remaining net proceeds from the offering, together with borrowings under a proposed new credit facility for which it has begun to secure commitments from a syndicate of lenders, for general corporate purposes, which may include the repayment of other indebtedness and funding future acquisitions and investments. The syndication efforts for the proposed new credit facility are expected to continue through the second quarter of 2010.

J.P. Morgan, Deutsche Bank Securities, KeyBanc Capital Markets, and RBC Capital Markets acted as joint book-running managers for the offering, with Morgan Keegan & Company, Inc., SunTrust Robinson Humphrey and UBS Investment Bank acting as joint-lead managers and JMP Securities and Stifel, Nicolaus & Company, Incorporated acting as co-managers.

All of the shares of common stock were issued by the Company and were issued under the Company's currently effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC").

SOURCE Medical Properties Trust, Inc.