TOLEDO, Ohio, Sep 16, 2004 (BUSINESS WIRE) -- Health Care REIT, Inc. (NYSE:HCN) today announced that it has closed a public offering of $50 million of senior unsecured notes due November 15, 2013, at an effective yield of 5.68 percent. These notes are an add-on to the $250 million senior unsecured notes the company issued in November 2003. Upon completion of this offering, the aggregate principal amount of outstanding notes of this series will be $300 million. The company intends to use the net proceeds from the sale to invest in additional health care properties. Pending such use, the proceeds will be invested in short-term liquid investments.
UBS Investment Bank acted as manager.
Health Care REIT, Inc., with headquarters in Toledo, Ohio, is a real estate investment trust that invests in health care facilities, primarily skilled nursing and assisted living facilities. At June 30, 2004, the company had investments in 346 health care facilities in 33 states with 49 operators and had total assets of approximately $2.2 billion. For more information on Health Care REIT, Inc., via facsimile at no cost, dial 1-800-PRO-INFO and enter the company code - HCN. More information is available on the Internet at www.hcreit.com.
This document may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the possible expansion of the company's portfolio; the performance of its operators and properties; its ability to enter into agreements with new viable tenants for properties which it takes back from financially troubled tenants, if any; its ability to make distributions; its policies and plans regarding investments, financings and other matters; its tax status as a real estate investment trust; its ability to appropriately balance the use of debt and equity; and its ability to access capital markets or other sources of funds. When the company uses words such as "believe," "expect," "anticipate," or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The company's expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors, including, but not limited to: the status of the economy; the status of capital markets, including prevailing interest rates; compliance with and changes to regulations and payment policies within the health care industry; changes in financing terms; competition within the health care and senior housing industries; and changes in federal, state and local legislation. Finally, the company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.
SOURCE: Health Care REIT, Inc.
Health Care REIT, Inc. Ray Braun, Mike Crabtree or Scott Estes, 419-247-2800
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