By Wendy Van Sickle
Columbus, Ohio, April 3 – Ventas, Inc. priced a private offering in Canada of an upsized C$600 million of 5.398% five-year senior notes, according to an 8-K filing with the Securities and Exchange Commission.
The issue size was originally announced as C$500 million.
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.
Ventas is a Chicago-based real estate investment trust for housing and health care properties.
| Issuer: | Ventas Canada Finance Ltd.
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| Guarantor: | Ventas, Inc.
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| Amount: | C$600 million
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| Description: | Senior notes, series I
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| Maturity: | April 21, 2028
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| Coupon: | 5.398%
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| Announcement date: | April 3
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| Settlement date: | April 21
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| Distribution: | Canada
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