By Andrea Heisinger
New York, June 3 - Health Care REIT, Inc. reopened its issue of 6.125% 10-year senior unsecured notes on Thursday to add $150 million, a source away from the sale said.
Total issuance is $450 million, including $300 million priced on March 30 at Treasuries plus 325 basis points.
The notes (Baa2/BBB-/BBB) priced at 100.908 to yield 6% with a spread of 261.6 bps over Treasuries. There is a make-whole call of Treasuries plus 35 bps.
Bookrunners were Bank of America Merrill Lynch and Deutsche Bank Securities Inc. Barclays Capital Inc. and Credit Agricole CIB were passive bookrunners.
Proceeds are being used for general corporate purposes, including investing in properties and repaying borrowings under an unsecured line of credit and other debt.
The senior housing and health care real estate investment trust is based in Toledo, Ohio.
| Issuer: | Health Care REIT, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $150 million reopened
|
| Maturity: | April 15, 2020
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank Securities Inc. (active), Barclays Capital Inc., Credit Agricole CIB (passive)
|
| Coupon: | 6.125%
|
| Price: | 100.908
|
| Yield: | 6%
|
| Spread: | Treasuries plus 261.6 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | June 3
|
| Settlement date: | June 8
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
| Total issuance: | $450 million, including $300 million priced on March 30 at Treasuries plus 325 bps
|
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