Health Care REIT to pay down lines of credit using note proceeds

By Tali David

Minneapolis, Oct. 2 - Health Care REIT, Inc. plans to repay advances under its unsecured lines of credit with the proceeds from a new notes offering, according to a 424B5 filed with the Securities and Exchange Commission.

As of Sept. 30, there was an outstanding balance of $837.5 million under the unsecured lines of credit at an average rate of 1.35%.

Proceeds will also be used for general corporate purposes, including investing in health care and seniors housing properties.

Health Care REIT is a Toledo, Ohio-based real estate investment trust that invests in senior housing and health care real estate.

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