By Cristal Cody
Tupelo, Miss., Nov. 5 – Ventas Canada Finance Ltd. priced C$900 million of guaranteed senior notes (Baa1/BBB+) in two tranches on Tuesday, according to a news release.
The company sold C$300 million of floating-rate senior notes due Nov. 12, 2021 and C$600 million of 2.8% fixed-rate notes due April 12, 2024.
The notes were sold on a prospectus-exempt basis to accredited investors.
The notes are guaranteed by parent company Ventas, Inc.
Proceeds will be used to repay a portion of existing debt and for 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$900 million
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Description: | Senior notes
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Trade date: | Nov. 5
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Settlement date: | Nov. 12
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Ratings: | Moody’s: Baa1
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| S&P: BBB+
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Distribution: | Canada
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Floaters due 2021
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Amount: | C$300 million
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Description: | Floating-rate senior notes
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Maturity: | Nov. 12, 2021
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Notes due 2024
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Amount: | C$600 million
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Description: | Fixed-rate notes
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Maturity: | April 12, 2024
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Coupon: | 2.8%
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