Health Care REIT, Inc. Announces Pricing of $400 Million of 4.5% Senior Unsecured Notes
<0> Health Care REIT, Inc.Scott Estes, 419-247-2800Jay Morgan, 419-247-2800 </0>
today announced that it has priced $400 million in aggregate principal amount of 4.5% senior unsecured notes due January 15, 2024. The notes were priced at 98.958% of their face amount to yield 4.626%. Subject to customary closing conditions, the offering is expected to close on October 7, 2013.
The company intends to use the net proceeds from this offering to repay outstanding indebtedness under its unsecured line of credit and for general corporate purposes, including investing in health care and seniors housing properties. Pending such use, the net proceeds may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States.
BofA Merrill Lynch, J.P. Morgan, UBS Investment Bank, Citigroup and Deutsche Bank Securities acted as joint book-running managers for the offering.
The offering is being made pursuant to Health Care REIT’s effective shelf registration statement on file with the Securities and Exchange Commission. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the Securities and Exchange Commission. A copy of the prospectus supplement and accompanying base prospectus may be obtained, when available, by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, or by calling (800) 294-1322, or email ; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, or by calling: (212) 834-4533 (collect), or by fax: (212) 834-6081; or UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, or by calling (877) 827-6444, ext. 561 3884.
This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of seniors housing and health care real estate. The company also provides an extensive array of property management and development services. As of June 30, 2013, the company’s broadly diversified portfolio consisted of 1,183 properties in 46 states, the United Kingdom, and Canada.
This document may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The company’s expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors, including, but not limited to, those factors discussed in the prospectus supplement and related base prospectus and in the company's reports filed from time to time with the Securities and Exchange Commission. Completion of the proposed offering is subject to various factors, including, but not limited to, customary closing conditions. The company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.