Ventas takes in $395.75 million tenders of 4.25% notes due 2022

By Wendy Van Sickle

Columbus, Ohio, Aug. 19 – Ventas, Inc. announced that wholly owned subsidiaries Ventas Realty, LP and Ventas Capital Corp. took in tenders of $395,749,000 notes in their cash tender offer for any and all of their $600 million outstanding 4.25% senior notes due 2022.

Ventas offered a tender offer consideration of $1,054.58 for each $1,000 principal amount of the notes, plus accrued interest from the last interest payment date to but excluding the payment date, which is expected to occur on Aug. 21.

The offer began on Aug. 12 and expired at 5 p.m. ET on Aug. 16.

Tenders could be withdrawn at any time at or before the expiration time.

The issuers will fund the tender offer with the net proceeds from Ventas Realty’s sale of $650 million of 3% senior notes due 2030, together with cash on hand and/or borrowings under the company’s unsecured revolving credit facility.

J.P. Morgan Securities LLC (212 834-6950 or 866 834-4666) is the dealer manager. D.F. King & Co., Inc. (212 269-5550 for banks and brokers, 800 515-4479 for all others or ventas@dfking.com) is the tender agent and information agent.

Ventas is a real estate investment trust based in Chicago.

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