Healthcare Realty Trust Announces $600 Million Commercial Paper Program

Healthcare Realty Trust (NYSE:HR) established an inaugural $600 million commercial paper program through its operating partnership, Healthcare Realty Holdings, L.P., allowing issuance of short-term unsecured commercial paper notes.

Rhea-AI Summary

Healthcare Realty Trust (NYSE:HR) established an inaugural $600 million commercial paper program through its operating partnership, Healthcare Realty Holdings, L.P., allowing issuance of short-term unsecured commercial paper notes.

The notes will be sold in the U.S. market, rank pari passu with other senior unsecured indebtedness, and are fully and unconditionally guaranteed by the company. Proceeds will be used for general corporate purposes.

Positive

• $600 million short-term funding capacity established
• Notes are fully and unconditionally guaranteed by the company
• Program provides flexible liquidity for general corporate purposes

Negative

• Allows up to $600 million additional short-term unsecured debt
• Notes rank pari passu with existing senior unsecured indebtedness
• Proceeds designated for general corporate purposes without earmark

Argus Feb 13 session

+2.69% close to close 2.1x rel. volume Open Argus

Details

News Market Reaction – HR

On Feb 13, the first trading day after this news, HR closed 2.69% above the previous close. That session’s volume was 2.1x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Feb 13 session.

Key Figures

Commercial paper capacity: $600 million Securities Act year: 1933

Commercial paper capacity

$600 million

Maximum short-term unsecured commercial paper notes under new program

Securities Act year

1933

Securities Act of 1933 referenced for registration requirements

Historical Context

5 past events · Latest: Jan 20

5 events

1. Jan 20

   Earnings call notice

   24h Move

   -0.3%

   Announced Q4 2025 earnings release date and conference call details.

2. Jan 07

   CFO transition

   24h Move

   +0.3%

   Named new CFO with no change to 2025 Normalized FFO guidance.

3. Oct 30

   Q3 2025 earnings

   24h Move

   -0.2%

   Reported Q3 2025 results with raised Normalized FFO and NOI guidance.

4. Oct 14

   Earnings call notice

   24h Move

   -0.1%

   Set Q3 2025 earnings release date and investor conference call.

5. Oct 08

   ESG report release

   24h Move

   +0.1%

   Released seventh Corporate Responsibility Report highlighting 2024 ESG metrics.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

commercial paper, pari passu, senior unsecured indebtedness, guaranteed, +1 more

5 terms

commercial paper financial

"the establishment of its inaugural commercial paper program. The program allows"

Short-term IOUs issued by companies to raise cash quickly, sold to investors for a fixed, brief period (usually up to a few months) and repaid with interest at maturity. Think of it as a business borrowing from the public without putting up collateral, like a friend asking to borrow money for a few weeks with a promise to pay back a bit more. Investors watch commercial paper to gauge a company’s short-term funding health and credit risk; difficulty issuing it or rising yields can signal liquidity stress or higher perceived risk.

pari passu financial

"and will rank pari passu with the Issuer's other senior unsecured indebtedness."

An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.

senior unsecured indebtedness financial

"rank pari passu with the Issuer's other senior unsecured indebtedness."

Senior unsecured indebtedness is debt a company promises to repay that ranks near the front of the payment line but is not backed by specific collateral like property or equipment. For investors, it matters because these creditors get paid before most others if a company fails, yet they face higher risk than holders of secured debt, so the interest rate and expected recovery reflect that middle-ground protection. Think of it as a high-priority IOU without a mortgage.

guaranteed financial

"The notes will be fully and unconditionally guaranteed by the Company."

A guarantee is a formal promise that a payment or obligation will be met even if the original party cannot fulfill it, often provided by a third party, insurer, or legal contract. For investors it signals lower risk—similar to a co-signer on a loan—because the guarantor should cover missed payments or performance, but the protection only matters as much as the guarantor’s financial strength and the legal enforceability of the promise.

exemption from registration regulatory

"absent registration or an applicable exemption from registration requirements."

Exemption from registration means that certain financial instruments or offerings are not required to go through a formal registration process with regulatory authorities. This can make it easier and faster for companies to raise money or offer securities to investors. For investors, it matters because it may affect how much information is available about the investment and the level of oversight involved.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASHVILLE, Tenn., Feb. 12, 2026 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) (the “Company”) today announced the establishment of its inaugural commercial paper program. The program allows the Company’s operating partnership, Healthcare Realty Holdings, L.P. (the “Issuer”), to issue up to $600 million of short-term, unsecured commercial paper notes. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with the Issuer's other senior unsecured indebtedness. The notes will be fully and unconditionally guaranteed by the Company. Note proceeds will be used for general corporate purposes.

The notes and guarantees to be offered under the commercial paper program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the Issuer's commercial paper program.

About Healthcare Realty

Healthcare Realty Trust Incorporated (NYSE:HR) is the largest, pure-play owner, operator and developer of medical outpatient buildings in the United States. Additional information regarding the Company can be found at www.healthcarerealty.com.

Investor Contact:

Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290

Forward-Looking Statements

This press release contains certain forward-looking statements with respect to the Company. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially and in adverse ways from those expressed or implied by such forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially and adversely affect the Company’s financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in the Company’s 2024 Annual Report on Form 10-K and in its other filings with the SEC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Healthcare Realty Trust (HR) announce on February 12, 2026 about commercial paper?

It announced an inaugural $600 million commercial paper program for its operating partnership. According to the company, the notes are short-term, unsecured, sold in the U.S., and fully guaranteed by Healthcare Realty Trust for general corporate purposes.

How will the Healthcare Realty Trust (HR) commercial paper notes be guaranteed and ranked?

The notes are fully and unconditionally guaranteed by Healthcare Realty Trust and rank pari passu with senior unsecured debt. According to the company, this places the notes on equal priority with the issuer's other senior unsecured indebtedness.

What can Healthcare Realty Trust (HR) use the $600 million commercial paper proceeds for?

Proceeds will be used for general corporate purposes. According to the company, there is no specific project earmarked, giving management flexibility to address working capital, refinancing, or other corporate needs.

Will Healthcare Realty Trust (HR) register the commercial paper under the Securities Act of 1933?

No, the notes and guarantees will not be registered under the Securities Act of 1933. According to the company, they may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements.

Does the commercial paper program increase Healthcare Realty Trust (HR) short-term borrowing risk?

Yes, it enables up to $600 million of short-term unsecured borrowing, which can raise rollover and liquidity risk. According to the company, the program is standard commercial paper sold under customary U.S. market terms.