By Susanna Moon
Chicago, Sept. 18 – Ventas, Inc. said it priced C$400 million of 3% five-year senior notes, series A due 2019 and C$250 million of 4.125% 10-year senior notes, series B due 2024 in a private offering in Canada.
The notes are being issued by Ventas’s indirect wholly owned subsidiary, Ventas Canada Finance Ltd.
Proceeds will be used to repay some outstanding debt under the acquisition term loan used to fund the issuer’s acquisition of 29 independent living seniors housing communities located in Canada from Holiday Retirement.
The real estate investment trust for housing and health care properties is based in Chicago.
| Issuer: | Ventas Canada Finance Ltd.
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| Guarantor: | Ventas, Inc.
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| Issue: | Senior notes
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| Amount: | C$650 million
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| Trade date: | Sept. 18
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| Settlement date: | Sept. 24
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| Five-year notes
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| Amount: | C$400 million
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| Maturity: | Sept. 30, 2019
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| Coupon: | 3%
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|
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| Ten-year notes
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| Amount: | C$250 million
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| Maturity: | Sept. 30, 2024
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| Coupon: | 4.125%
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