Healthcare Realty plans $500M exchangeable senior notes offering due 2032 to refinance debt and repurchase shares.

Healthcare Realty Trust's operating partnership intends to offer $500 million in exchangeable senior notes due 2032, with an option for an additional $75 million. The notes will be senior unsecured obligations, payable semi-annually, and exchangeable for cash and/or shares of Healthcare Realty's common stock. Proceeds will be used to repurchase shares, fund capped call transactions, and repay existing debt due in 2026. The offering aims to optimize capital structure while managing potential dilution through capped call transactions, with final terms to be set at pricing.