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Ventas holders tender $396.05 million 2.7% notes due 2020 in offer
By Angela McDaniels
Tacoma, Wash., July 1 – Ventas, Inc. subsidiaries Ventas Realty, LP and Ventas Capital Corp. received tenders for $396,052,000 principal amount, or 79.21%, of their $500 million 2.7% senior notes due 2020, according to a press release.
A tender offer for the notes began June 24 and ended at 5 p.m. ET on June 28.
The issuers expect to accept for payment all notes tendered prior to the expiration time.
The tender offer price is $1,003.73 per $1,000 principal amount plus accrued interest up to but excluding the payment date, July 3.
The issuers will fund the tender offer with proceeds from Ventas Realty’s $450 million of new 2.65% senior notes due 2025, cash on hand and/or borrowings under Ventas, Inc.’s revolving credit facility.
All notes purchased in the offer will be retired.
BofA Securities, Inc. (980 387-3907 or 888 292-0070) was the dealer manager. D.F. King & Co., Inc. (212 269-5550, 888 515-4479 or ventas@dfking.com) was the information agent.
Ventas is a real estate investment trust for housing and health-care properties and is based in Chicago.
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