Medical Properties Trust, Inc. (the "Company") (NYSE:MPW) announced today that it has priced an upsized offering of $1.4 billion aggregate principal amount of senior notes due 2027 (the "Notes") by its operating partnership, MPT Operating Partnership, L.P. (the "Operating Partnership"), and MPT Finance Corporation, a wholly-owned subsidiary of the Operating Partnership ("MPT Finance" and, together with the Operating Partnership, the "Issuers"). The Notes will bear interest at a rate of 5.000% per year. The offering size was increased to $1.4 billion from the previously announced $1.0 billion aggregate principal amount. The Notes will be senior unsecured obligations of the Issuers, guaranteed by the Company.

The Issuers intend to use approximately $364.4 million of the net proceeds from the offering of the Notes to redeem all $350 million aggregate principal amount of their existing 6.375% senior notes due 2022, including premium and accrued and unpaid interest thereon. The Issuers intend to use the remainder of the net proceeds from the offering, together with cash on hand and other sources of debt capital, which may include borrowings under the Operating Partnership's revolving credit facility, to finance the Company's previously announced anticipated investment in a portfolio of ten acute care hospitals and one behavioral health facility currently operated by IASIS Healthcare for an aggregate purchase price and investment of approximately $1.4 billion and the related investment by a subsidiary of the Operating Partnership in approximately $100 million in minority preferred interests of Steward Health Care System LLC (collectively, the "Steward-IASIS Transactions"). If the Steward-IASIS Transactions are not completed or the Company elects not to consummate the Steward-IASIS Transactions, in either case, on or prior to 180 days after the closing date of the Notes offering, the Issuers will be required to redeem $500 million aggregate principal amount of the Notes in a special mandatory redemption. If such redemption were to occur, the Issuers intend to use the remaining proceeds to repay borrowings under the Operating Partnership's revolving credit facility and for general corporate purposes, which may include investing in additional healthcare properties.

J.P. Morgan, Barclays, BofA Merrill Lynch, BBVA, Credit Agricole CIB, Credit Suisse, Goldman Sachs & Co. LLC, KeyBanc Capital Markets, MUFG, RBC Capital Markets, Scotiabank, Stifel, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint book-running managers for the offering of the Notes.

The offering of the Notes is expected to close on or about September 21, 2017, subject to certain closing conditions. The offering of the Notes was made under an effective shelf registration statement of the Company, the Operating Partnership and MPT Finance and a related preliminary prospectus supplement and free writing prospectus. The Company intends to file a final prospectus supplement with the Securities and Exchange Commission ("SEC") for the offering of the Notes to which this communication relates. When available, the final prospectus may be obtained from J.P. Morgan via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or toll free at (866) 803-9204; or from Barclays via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or toll free at (888) 603-5847 or emailing: [email protected]; or by visiting the EDGAR database on the SEC's web site at www.sec.gov.

About Medical Properties Trust, Inc.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170907006727/en/