HCN Completes $750 Million Senior Unsecured Note Offering

The $750 million offering aggregate principal amount of 4.0% senior unsecured notes due June 1, 2025. The notes were priced at 99.926% of their face amount to yield 4.009%.

“As a result, we have significantly enhanced our financial flexibility and liquidity as we move toward the second half of 2015.”

“Following our successful first quarter equity offering, this transaction demonstrates HCN’s continued access to low-cost capital. Driven by strong investor demand, this represents the largest single tranche U.S. debt offering in the Company’s history,” said Scott Estes, HCN’s Chief Financial Officer. “As a result, we have significantly enhanced our financial flexibility and liquidity as we move toward the second half of 2015.”

The company intends to use the net proceeds from this offering to repay advances under its primary unsecured credit facility and for general corporate purposes, including investing in health care and seniors housing properties.

Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, UBS Securities LLC, Credit Agricole Securities (USA) Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC served as joint book-running managers for the offering.