By Sheri Kasprzak
New York, March 30 - Health Care REIT, Inc. priced $300 million 6.125% 10-year senior unsecured notes (Baa2/BBB-/) on Tuesday at 99.297 to yield 6.22%, or 325 basis points over Treasuries, according to a news release from the company.
Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Barclays Capital Inc. and Credit Agricole Securities (USA) Inc. were the joint bookrunners.
The notes were sold under the company's shelf registration.
Proceeds will be used for general corporate purposes, including investing in senior living and health care facilities.
Based in Toledo, Ohio, Health Care REIT is a real estate investment trust that invests in senior living communities.
| Issuer: | Health Care REIT, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $300 million
|
| Maturity: | April 15, 2020
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Barclays Capital Inc., Credit Agricole Securities (USA) Inc.
|
| Coupon: | 6.125%
|
| Price: | 99.297
|
| Yield: | 6.22%
|
| Spread: | 325 bps over Treasuries
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Pricing date: | March 30
|
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