By Andrea Heisinger
Omaha, Oct. 10 - HCP, Inc. priced $600 million of 6.7% notes due January 2018 on Wednesday to yield Treasuries plus 210 basis points, a market source said.
The Rule 144A notes (Baa3/BBB) were priced at 99.793 to yield 6.73%.
There is a make-whole call at Treasuries plus 35 bps.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc. and UBS Investment Bank.
HCP is a Long Beach, Calif., real estate investment trust primarily involved in health care properties.
| Issuer: | HCP, Inc.
|
| Issue: | Notes
|
| Amount: | $600 million
|
| Maturity: | Jan. 30, 2018
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., UBS Investment Bank
|
| Coupon: | 6.7%
|
| Price: | 99.793
|
| Yield: | 6.73%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Oct. 10
|
| Settlement date: | Oct. 15
|
| Distribution: | Rule 144A
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
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