Health Care REIT, Inc. (NYSE:HCN) today announced that it has priced $400 million in aggregate principal amount of 4.5% senior unsecured notes due January 15, 2024. The notes were priced at 98.958% of their face amount to yield 4.626%. Subject to customary closing conditions, the offering is expected to close on October 7, 2013.
The company intends to use the net proceeds from this offering to repay outstanding indebtedness under its unsecured line of credit and 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, J.P. Morgan, UBS Investment Bank, Citigroup and Deutsche Bank Securities 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 prospectus supplement and accompanying base prospectus relating to the offering will be filed with the Securities and Exchange Commission. A copy of the prospectus supplement and accompanying base prospectus may be obtained, when available, 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, or email email@example.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, or by calling: (212) 834-4533 (collect), or by fax: (212) 834-6081; or UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, or by calling (877) 827-6444, ext. 561 3884.This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
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