Health Care REIT’s 3% notes continue to be convertible through June 30

By Marisa Wong

Madison, Wis., March 31 – Health Care REIT, Inc. said that its 3% convertible senior notes due 2029 will remain convertible for the upcoming quarter, through June 30.

The notes were also convertible in the previous quarter, as previously reported.

Holders may convert the securities because the closing price of the company’s stock was greater than 120% of the conversion price for at least 20 trading days during the 30 consecutive trading-day period ended on March 31.

Any conversions will be paid in cash up to the principal amount and stock for any remaining value. The number of shares will be based upon the volume-weighted average price per share of the company’s common stock during the 20-trading-day period following the satisfaction of the conversion procedures.

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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