By Aleesia Forni
Virginia Beach, May 20 – Health Care REIT Inc. priced $750 million of 4% 10-year senior notes (Baa2/BBB) on Wednesday at Treasuries plus 177 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.926 to yield 4.009%.
The notes priced at the tight end of talk.
Citigroup Global Markets Inc., UBS Securities LLC, Jefferies & Co. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used to repay debt under an unsecured credit facility and for general corporate purposes.
The real estate investment trust for outpatient health care services properties is based in Nashville, Tenn.
| Issuer: | Health Care REIT Inc.
|
| Amount: | $750 million
|
| Description: | Senior notes
|
| Maturity: | June 1, 2025
|
| Bookrunners: | Citigroup Global Markets Inc., UBS Securities LLC, Jefferies & Co., J.P. Morgan Securities LLC
|
| Coupon: | 4%
|
| Price: | 99.926
|
| Yield: | 4.009%
|
| Spread: | Treasuries plus 177 bps
|
| Make-whole call: | Treasuries plus 30 bps prior to March 1, 2025, then callable at par
|
| Trade date: | May 20
|
| Settlement date: | May 26
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 180 bps area, tightened from 185 bps to 190 bps
|
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