Ventas launches tender offer for 4.25% senior notes due 2022

By Marisa Wong

Los Angeles, Aug. 12 – Ventas, Inc. announced that wholly owned subsidiaries Ventas Realty, LP and Ventas Capital Corp. have begun a cash tender offer for any and all of their $600 million outstanding 4.25% senior notes due 2022.

Ventas is offering a tender offer consideration of $1,054.58 for each $1,000 principal amount of the notes, plus accrued interest from the last interest payment date to but excluding the payment date, which is expected to occur on Aug. 21.

The offer will expire at 5 p.m. ET on Aug. 16.

Tenders may be withdrawn at any time at or before the expiration time.

The offer is conditioned on the company receiving proceeds of at least $500 million from an offering of new senior notes.

J.P. Morgan Securities LLC (212 834-6950 or 866 834-4666) is the dealer manager. D.F. King & Co., Inc. (212 269-5550 for banks and brokers, 800 515-4479 for all others or ventas@dfking.com) is the tender agent and information agent.

Ventas, Inc. is a real estate investment trust based in Chicago.

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