Ventas Realty talks $300 million seven-year notes for Thursday pricing

By Andrea Heisinger

New York, March 14 - Ventas Realty, LP is expected to price $300 million of seven-year senior notes (Baa2/BBB/BBB+) on Thursday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

Whispered guidance at midday was in the Treasuries plus 150 basis points area, an informed source said.

Bookrunners are Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Jefferies & Co. and J.P. Morgan Securities LLC.

The notes are guaranteed by Ventas, Inc.

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

Ventas was last in the market with a $925 million sale of notes due 2018 and 2022 on Dec. 6, 2012.

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

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