CHICAGO: Ventas, Inc. (VTR), the Chicago, IL-based real estate investment trust (“REIT”) has announced the pricing of a public offering of $900 million aggregate senior notes. The company intends to utilize the net proceeds for repaying outstanding debt under the unsecured revolving credit facility, meeting working capital requirements as well as funding investments.
The latest pricing includes two senior notes – 2025 Notes and 2045 Notes. The 2025 Notes include 3.500% Senior Notes of a principal amount of $600 million, which is due on 2025 at 99.663% of principal amount. The 2045 Notes include 4.375% Senior Notes of $300 million principal amount, which is due on 2045 at 99.500% of principal amount. The sale of the senior notes, subject to certain customary closing conditions, is expected to be completed by Jan 14, 2015.
Ventas is a healthcare REIT primarily engaged in acquisition and ownership of seniors housing and healthcare properties. The company’s diverse portfolio includes medical office buildings, seniors housing communities, skilled nursing facilities, hospitals and other properties across the U.S., Canada and UK.