New Issue: Welltower sells $500 million 2.05% notes due January 2029 at 85 bps over Treasuries

By Devika Patel

Knoxville, Tenn., June 23 – Welltower Inc. priced $500 million of 2.05% notes (Baa1/BBB+) due Jan. 15, 2029 at Treasuries plus 85 basis points on Wednesday according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.715 to yield 2.091%.

Wells Fargo Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, BofA Securities Inc., Barclays, Credit Agricole CIB, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA Inc., MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC were the bookrunners.

Proceeds will be used for general corporate purposes, including debt repayment and investing in health care and seniors housing properties.

The Toledo, Ohio-based real estate investment trust invests in senior housing and health care real estate.

Issuer:	Welltower Inc.
Amount:	$500 million
Description:	Notes
Maturity:	Jan. 15, 2029
Bookrunners:	Wells Fargo Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, BofA Securities Inc., Barclays, Credit Agricole CIB, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA Inc., MUFG, PNC Capital Markets LLC and RBC Capital Markets LLC
Senior co-managers:	BMO Capital Markets Corp., BNP Paribas Securities Corp., Capital One Securities Inc., Fifth Third Securities Inc., Huntington Securities Inc., Regions Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC and Truist Securities Inc.
Co-managers:	BNY Mellon Capital Markets, LLC, Comerica Securities Inc., Hancock Whitney Investment Services Inc., Loop Capital Markets LLC, Synovus Securities Inc. and BOK Financial Securities Inc.
Coupon:	2.05%
Price:	99.715
Yield:	2.091%
Spread:	Treasuries plus 85 bps
Call:	Make-whole call at Treasuries plus 15 bps until Nov. 15, 2028, then a par call
Change-of-control put:	At 101
Trade date:	June 23
Settlement date:	June 28
Ratings:	Moody’s: Baa1
	S&P: BBB+

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