Ventas launches C$500 million offering of five-year senior notes

By Wendy Van Sickle

Columbus, Ohio, April 3 – Ventas, Inc. launched a C$500 million offering of senior notes, series I, due 2028 in Canada, according to a news release Monday.

The notes will be issued by Ventas’ indirect wholly owned subsidiary Ventas Canada Finance Ltd. and guaranteed by Ventas and will be sold on a prospectus-exempt basis only to accredited investors who are not individuals unless those individuals are also permitted clients under Canadian securities laws.

Final terms, including the total principal amount and interest rate, will be determined at pricing.

Proceeds will be used to fund the issuer’s tender offers to purchase its 2.8% senior notes, series E, due 2024 and 4.125% senior notes, series B, due 2024, for a combined total purchase price of up to C$500 million.

Remaining proceeds will be used for working capital and general corporate purposes.

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

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