TOLEDO, Ohio, Mar 30, 2010 (BUSINESS WIRE) --Health Care REIT, Inc. (NYSE:HCN) today announced that it has priced an offering of $300 million of 6.125% senior unsecured notes due April 15, 2020. The notes were priced at 99.297% of their face amount to yield 6.22%. Subject to customary closing conditions, the offering is expected to close on April 7, 2010.
The company intends to use the net proceeds from this offering for general corporate purposes, including investing in health care and senior housing properties and repaying borrowings under its unsecured line of credit and other outstanding indebtedness.
Banc of America Securities LLC, Deutsche Bank Securities Inc., Barclays Capital Inc. and Credit Agricole Securities (USA) Inc. are acting as joint book-running managers for this offering.
The offering is made pursuant to Health Care REIT's shelf registration statement on file with the Securities and Exchange Commission. A copy of the prospectus supplement and related prospectus relating to the offering may be obtained by contacting Banc of America Securities LLC, 100 West 33rd Street, 3rd Floor, New York, New York 10001, Attention: Prospectus Department or by calling toll-free 1-800-294-1322, or Deutsche Bank Securities Inc. at 100 Plaza One, Floor 2, Jersey City, New Jersey 07311-3901, Attention: Prospectus Department or by calling toll-free 1-800-503-4611.
This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Health Care REIT. Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of December 31, 2009, the company's broadly diversified portfolio consisted of 590 properties in 39 states. More information is available on the company's website at www.hcreit.com. The information on our website is not part of the offering.
SOURCE: Health Care REIT, Inc.
Health Care REIT, Inc. Scott Estes, 419-247-2800 Mike Crabtree, 419-247-2800