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Ventas Announces Pricing Of Senior Notes Offering

Stocks in this article: VTR

Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) announced today that it has priced a public offering of $700 million aggregate principal amount of 2.00% Senior Notes due 2018 (the “2018 Notes”) at 99.739% of principal amount and $225 million principal amount of 3.25% Senior Notes due 2022 (the “2022 Notes” and, together with the 2018 Notes, the “Notes”) at 98.509% of principal amount. The Notes are being issued by the Company’s operating partnership, Ventas Realty, Limited Partnership, and a wholly owned subsidiary, Ventas Capital Corporation, and will be guaranteed, on a senior unsecured basis, by the Company. The 2022 Notes will be issued under the supplemental indenture governing the issuers’ existing 3.25% Senior Notes due 2022 that were issued on August 3, 2012 and are expected to be treated fungibly as a single class and traded together with the issuers’ existing 3.25% Senior Notes due 2022.

The Company expects to use the net proceeds from the offering to repay indebtedness outstanding under its unsecured revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions and investments, if any. Completion of the offering is subject to customary closing conditions. The sale of the Notes is expected to close on December 13, 2012.

The Notes are being offered pursuant to the Company’s existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering of the 2018 Notes. Barclays Capital Inc., Citigroup Global Markets Inc., Jefferies & Company, Inc. and KeyBanc Capital Markets Inc. acted as joint book-running managers for the offering of the 2022 Notes. When available, copies of the prospectus supplement and the accompanying prospectus may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 888-603-5847, or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 800-831-9146.

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