Ventas Realty to price $500 million 10-year guaranteed senior notes; talk 125 bps area spread

By Marisa Wong and Cristal Cody

Los Angeles, Aug. 11 – Ventas Realty, LP plans to price fixed-rate senior notes guaranteed by Ventas, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The offering is structured as $500 million of senior notes due Sept. 1, 2031 with price talk in the 125 basis points area over Treasuries, a market source told Prospect News.

The notes feature a make-whole call and then a par call.

In addition, the notes will be mandatorily called at 101 if the company does not complete its acquisition of New Senior Investment Group Inc. by April 20, 2022.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC and UBS Securities LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes.

Ventas is a real estate investment trust based in Chicago.

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