Welltower to repay term loan advances from some proceeds of notes

By Rebecca Melvin

New York, June 16 – Welltower Inc. plans to repay advances under its unsecured term loan using proceeds of a new notes offering, according to a 424B5 filing with the Securities and Exchange Commission.

The term loan was entered into on April 1. The proceeds of the new dollar notes are also earmarked for funding tender offers for up to $300 million of its 3¾% notes due 2023, of which there is about $500 million principal amount outstanding, and 3.95% notes due 2023, of which there is about $600 million principal amount outstanding, and for general corporate purposes.

Welltower is a senior housing and health care real estate investment trust based in Toledo, Ohio.

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