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Health Care REIT, Inc. Announces Pricing Of $1.2 Billion Of Senior Unsecured Notes

Health Care REIT, Inc. (NYSE:HCN) today announced that it has priced $1.2 billion in aggregate principal amount of senior unsecured notes issued in the following tranches:

  • $450 million of 2.25% notes due March 15, 2018 priced to yield 2.350%
  • $500 million of 3.75% notes due March 15, 2023 priced to yield 3.792%
  • $250 million of 5.125% notes due March 15, 2043 priced to yield 5.184%

Subject to customary closing conditions, the offering is expected to close on December 6, 2012.

The company intends to use the net proceeds from this offering to repay certain secured indebtedness to be assumed in connection with the previously announced acquisition of Sunrise Senior Living, Inc. If the acquisition of Sunrise is not completed, or if proceeds remain following repayment of such secured indebtedness, the company intends to use such proceeds for general corporate purposes, including investing in health care and seniors housing properties. Pending such use, the net proceeds may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States.

BofA Merrill Lynch, Deutsche Bank Securities, UBS Investment Bank, Citigroup, and Credit Agricole CIB acted as joint book-running managers for the offering.

The offering is being made pursuant to Health Care REIT’s effective shelf registration statement on file with the Securities and Exchange Commission. A copy of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department or by calling (800) 294-1322; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005 or by calling (800) 503-4611; or UBS Securities LLC, Attention: Prospectus Specialist, 299 Park Avenue, New York, NY 10171, or by calling (877) 827-6444, ext. 561 3884.

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