By Aleesia Forni
Virginia Beach, Oct. 2 - Health Care REIT Inc. priced $400 million of notes (Baa2/BBB/) due 2024 with a spread of Treasuries plus 200 basis points, according to an informed source.
The notes priced tight of talk.
BofA Merrill Lynch, J.P. Morgan Securities LLC, UBS Investment Bank, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the joint bookrunners.
The company plans to use proceeds to repay advances under its unsecured lines of credit and for general corporate purposes.
The real estate investment trust for senior and health care real estate is based in Toledo, Ohio.
| Issuer: | Health Care REIT Inc.
|
| Amount: | $400 million, upsized from $300 million
|
| Description: | Senior notes
|
| Maturity: | Jan. 1, 2024
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, UBS Investment Bank, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 200 bps
|
| Trade date: | Oct. 2
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Price talk: | Treasuries plus 205 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
