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.
|
| Guarantor: | Ventas, Inc.
|
| Amount: | C$900 million
|
| Description: | Senior notes
|
| Trade date: | Nov. 5
|
| Settlement date: | Nov. 12
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | Canada
|
|
|
| Floaters due 2021
|
| Amount: | C$300 million
|
| Description: | Floating-rate senior notes
|
| Maturity: | Nov. 12, 2021
|
|
|
| Notes due 2024
|
| Amount: | C$600 million
|
| Description: | Fixed-rate notes
|
| Maturity: | April 12, 2024
|
| Coupon: | 2.8%
|
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