Welltower plans to repay credit facility borrowings via new notes

By Marisa Wong

Morgantown, W.Va., April 3 – Welltower Inc. plans to repay advances under its primary unsecured credit facility using proceeds from an offering of notes due 2028, according to a 424B5 filing with the Securities and Exchange Commission.

As of March 30, the company had an outstanding balance of $865 million under the credit facility, which bore interest at 3.42%. The facility matures on May 13, 2020.

The company also plans to use proceeds from the new notes for general corporate purposes, including investing in health care and senior housing properties.

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

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