Ventas Realty, Ventas Capital selling new notes due 2018, reopening 2022 maturity

By Andrea Heisinger

New York, Dec. 6 - Ventas Realty, LP and Ventas Capital Corp. are pricing senior notes (Baa3/BBB-/BBB) in new and reopened tranches, an informed source said Thursday.

The sale includes a new note due 2018 and a reopening of 3.25% bonds due Aug. 15, 2022.

The reopened bonds have a make-whole call at Treasuries plus 30 basis points until March 15, 2022, with a par call after that date.

There is $275 million outstanding, which was priced at 188 bps over Treasuries on July 31.

The securities are guaranteed by Ventas, Inc.

Bookrunners are Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., Jefferies & Co., KeyBanc Capital Markets Inc. and Morgan Stanley & Co. LLC.

Proceeds will be used to repay debt under an unsecured revolving credit facility, for working capital and other for general corporate purposes, including funding future acquisitions or investments, if any.

The real estate investment trust for housing and health care properties is based in Chicago.

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