EPR Properties Launches $500 Million Convertible Senior Notes Offering Due 2032

EPR Properties announced on Wednesday, November 11, that it intends to offer $500 million of convertible senior notes due 2032 in a private placement. The offering will be made to qualified institutional buyers under Rule 144A and is not registered under securities laws.

EPR Properties is a diversified experiential net lease REIT whose portfolio includes theaters, eat-and-play venues, ski properties, fitness and wellness centers, and education properties. The company had been trading around $61 per share ahead of the announcement, with Citi recently lowering its price target on the stock to $63 from $65 and Truist carrying a Hold rating.