Jul 31 2012
Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") announced today
that it has priced a public offering of $275 million aggregate principal
amount of 3.25% Senior Notes due 2022 (the "notes") at 99.027% of
principal amount. The notes are being issued by the Company's operating
partnership, Ventas Realty, Limited Partnership, and a wholly owned
subsidiary, Ventas Capital Corporation, and will be guaranteed, on a
senior unsecured basis, by the Company.
The Company expects to use the net proceeds from the offering to prepay
in full its $200 million unsecured term loan due 2013, which bears
interest at an all-in fixed rate of 4% per annum, to repay indebtedness
outstanding under its unsecured revolving credit facility and for
working capital and other general corporate purposes, including to fund
future acquisitions and investments, if any. Completion of the offering
is subject to customary closing conditions. The sale of the notes is
expected to close on August 3, 2012.
Source: Ventas, Inc.