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Health Care REIT to price notes in five-, 10-, 30-year tranches
By Andrea Heisinger
New York, Nov. 27 - Health Care REIT, Inc. plans to tap the market for notes (Baa2/BBB-/BBB) in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.
The notes will have maturities of 2018, 2023 and 2043.
Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and UBS Securities LLC are the active bookrunners. Passive bookrunners are Citigroup Global Markets Inc. and Credit Agricole Securities USA.
Proceeds will be used to repay about $1.1 billion of secured debt of Sunrise Senior Living Inc. to be assumed in connection with a merger. Proceeds will be used for general corporate purposes if the merger is not completed.
Health Care REIT was last in the market with a $600 million sale of seven-year notes on March 27, 2012.
The real estate investment trust for senior and health care real estate is based in Toledo, Ohio.
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