Ventas Realty to pay down revolver via new notes offering proceeds

By Tali David

Minneapolis, Sept. 23 - Ventas Realty, LP plans to repay debt outstanding under its unsecured revolving credit facility with the proceeds from a new senior notes offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of Friday, there was $1.14 billion of debt outstanding under the revolver, excluding outstanding letters of credit of $14.9 million, and the weighted average interest rate applicable to that debt was 1.28% per annum.

Proceeds will also be used for working capital and other general corporate purposes, including to fund future acquisitions or investments, if any.

Ventas is a Chicago-based real estate investment trust.

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