By Wendy Van Sickle
Columbus, Ohio, Feb. 29 – Ventas, Inc. subsidiary Ventas Canada Finance Ltd. priced a private offering in Canada of C$650 million of 5.1% five-year senior notes (expected: Baa1/BBB+/BBB), according to an 8-K filing with the Securities and Exchange Commission.
Proceeds will be used to repay existing debt incurred by Ventas Canada (including under Ventas Canada’s C$500 million unsecured term loan) and/or for general corporate purposes, which may include acquisitions of, or investments in, additional properties and business.
Ventas is a Chicago-based real estate investment trust for housing and health care properties.
| Issuer: | Ventas Canada Finance Ltd.
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| Guarantor: | Ventas, Inc.
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| Amount: | C$650 million
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| Description: | Senior notes, series J
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| Maturity: | March 5, 2029
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| Coupon: | 5.1%
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| Announcement date: | Feb. 29
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| Settlement date: | March 5
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| Distribution: | Canada
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| Expected ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Fitch: BBB
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