Welltower eyeing add-on to existing 4% notes due 2025

By Aleesia Forni

Virginia Beach, Oct. 9 – Welltower Inc., formerly known as Health Care REIT Inc., plans to price a tap of its existing 4% notes due June 1, 2025, according to a 424B5 filed with the Securities and Exchange Commission.

BofA Merrill Lynch is the bookrunner.

Proceeds will be used to repay advances under the company’s unsecured credit facility and for general corporate purposes.

The original $750 million issue sold at Treasuries plus 177 basis points on May 20.

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

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