Key Developments: Select Income REIT (SIR)

SIR on New York Consolidated

28.20USD
20 May 2013
Price Change (% chg)

$0.00 (+0.00%)
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$28.60
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$21.23

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Latest Key Developments (Source: Significant Developments)

Select Income REIT Declares Regular Quarterly Common Distribution
Monday, 8 Apr 2013 08:00am EDT 

Select Income REIT announced it has raised its regular quarterly common distribution by $0.02 to $0.44 per common share ($1.76 per share per year). This distribution will be paid to holders of record of common shares as of the close of business on April 23, 2013, and will be distributed on or about May 20, 2013.  Full Article

Select Income REIT Expands Credit Facility To $750 Million
Monday, 4 Feb 2013 06:23pm EST 

Select Income REIT announced that it has increased its $500 million unsecured revolving credit facility to $750 million. The maturity date for the expanded facility remains unchanged at March 11, 2016 and the expanded facility retains a borrower`s option to extend the facility for one year. Interest paid on drawings under the facility also remains unchanged at LIBOR plus 130 basis points. Banks that participated in the $250 million expansion include the following: Wells Fargo Bank, N.A., Bank of America, N.A., Morgan Stanley Bank, N.A., Royal Bank of Canada, Citigroup Global Markets Inc., RBS Citizens, N.A., Regions Bank, UBS Loan Finance LLC, and Mizuho Corporate Bank, Ltd.  Full Article

Select Income REIT Announces Quarterly Common Dividend
Thursday, 10 Jan 2013 08:00am EST 

Select Income REIT announced that regular quarterly common share distribution of $0.42 per common share ($1.68 per share per year). This distribution will be paid to holders of record of common shares as of the close of business on January 22, 2013, and will be distributed on or about February 19, 2013.  Full Article

Select Income REIT Announces Underwriters' Exercise of Option to Purchase Additional Shares
Monday, 10 Dec 2012 06:00pm EST 

Select Income REIT announced that the underwriters of its public offering have exercised, in full, their option to purchase an additional 1,050,000 common shares. The sale of the additional common shares and the sale of the original 7,000,000 common shares are expected to close on December 11, 2012. The joint book running managers for the offering are Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities. The joint lead managers are Citigroup, Jefferies, RBC Capital Markets and UBS Investment Bank. The co-managers are Janney Montgomery Scott and Oppenheimer & Co.  Full Article

Select Income REIT Announces Proposed Public Offering of 6,000,000 Common Shares
Monday, 3 Dec 2012 04:10pm EST 

Select Income REIT announced that it commenced a public offering of 6,000,000 common shares. SIR expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 900,000 common shares. Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities are the joint book running managers for the offering. Citigroup, Jefferies, RBC Capital Markets and UBS Investment Bank are the joint lead managers. Janney Montgomery Scott and Oppenheimer & Co. are the co-managers.  Full Article

Select Income REIT Raises Quarterly Common Dividend
Tuesday, 9 Oct 2012 04:02pm EDT 

Select Income REIT announced it has raised its regular quarterly common distribution by $0.02 to $0.42 per common share ($1.68 per share per year). This distribution will be paid to holders of record of common shares as of the close of business on October 22, 2012, and will be distributed on or about November 19, 2012.  Full Article

Select Income REIT Closes $350 Million Unsecured Term Loan
Thursday, 12 Jul 2012 04:50pm EDT 

Select Income REIT announced the closing of a new five year $350 million unsecured term loan. The loan matures on July 11, 2017, and is prepayable, without penalty, at any time. Terms of the loan include interest at LIBOR plus 155 basis points, subject to adjustments based on changes to SIR’s leverage. SIR expects to use the net proceeds of the term loan to repay amounts outstanding under its $500 million revolving credit facility and to fund general business activities, including possible future acquisitions.  Full Article

Select Income REIT Announces First Common Share Dividend
Monday, 9 Jul 2012 04:01pm EDT 

Select Income REIT announced a common share distribution of $0.49 per common share. This dividend includes a regular quarterly distribution of $0.40 per common share ($1.60 per share per year) with respect to the quarter ended June 30, 2012, plus an additional $0.09 reflecting SIR’s first 20 days as a public company during the prior quarter. This distribution will be paid to holders of record of common shares as of the close of business on July 24, 2012, and will be distributed on or about August 20, 2012.  Full Article

Select Income REIT Announces Underwriters’ Exercise Of Over Allotment Option
Monday, 12 Mar 2012 08:00am EDT 

Select Income REIT announced that the underwriters of its Initial Public Offering have exercised, in full, their over allotment option to purchase an additional 1,200,000 common shares of beneficial interest, raising additional net proceeds of approximately $24.2 million. The closing of the over allotment option is expected to occur on March 12, 2012. A registration statement relating to the offering of the common shares of beneficial interest of SIR discussed above was declared effective by the Securities and Exchange Commission on March 6, 2012. Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities acted as joint book running managers for the offering. Citigroup, RBC Capital Markets and UBS Investment Bank acted as joint lead managers.  Full Article

Select Income REIT Prices Initial Public Offering
Tuesday, 6 Mar 2012 06:10pm EST 

Select Income REIT announced that it has priced an Initial Public Offering of 8,000,000 common shares of beneficial interest at $21.50 per share. The settlement of this offering is expected to occur on March 12, 2012. The underwriters have a 30-day option to purchase up to an additional 1,200,000 shares to cover over allotments, if any. All the shares are being offered by SIR, and the net proceeds of the offering will be used to repay SIR debt. A registration statement relating to the offering of the common shares of beneficial interest of SIR discussed above was declared effective by the Securities and Exchange Commission on March 6, 2012. Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities are the joint book running managers for the offering. Citigroup, RBC Capital Markets and UBS Investment Bank are the joint lead managers.  Full Article

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