By Andrea Heisinger
New York, Nov. 10 - Health Care REIT, Inc. priced $450 million of 4.95% senior notes due Jan. 15, 2021 on Wednesday at a spread of Treasuries plus 237.5 basis points, a market source said in mid-afternoon.
The notes (Baa2/BBB-/BBB) priced at 99.349 to yield 5.031%.
The notes are callable at a make-whole amount of Treasuries plus 35 bps until 90 days prior to maturity and afterward are callable at par.
Bookrunners were Bank of America Merrill Lynch, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and UBS Securities LLC.
Proceeds are being used for general corporate purposes, including investing in health care and senior housing properties.
The senior housing and health care properties real estate investment trust is based in Toledo, Ohio.
| Issuer: | Health Care REIT, Inc.
|
| Issue: | Senior notes
|
| Amount: | $450 million
|
| Maturity: | Jan. 15, 2021
|
| Bookrunners: | Bank of America Merrill Lynch, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., UBS Securities LLC
|
| Coupon: | 4.95%
|
| Price: | 99.349
|
| Yield: | 5.031%
|
| Spread: | Treasuries plus 237.5 bps
|
| Call: | At a make-whole of Treasuries plus 35 bps prior to 90 days before maturity, then at par
|
| Trade date: | Nov. 10
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
