8-KOther EventsExhibits & Filings

WELLTOWER INC. 8-K Report, Corporate Update (Sep 13, 2010)

Filed September 13, 2010For Securities:WELL

Summary

Health Care REIT, Inc. (now WELL Health Properties) reported the successful sale of $450 million in aggregate principal amount of 4.70% senior notes due September 15, 2017. This offering, conducted under an automatic shelf registration statement and a firm commitment underwriting agreement with several prominent financial institutions, signifies the company's strategic move to raise capital. The net proceeds from this debt issuance will likely be used to fund ongoing operations, strategic acquisitions, and development projects within the healthcare real estate sector. This debt issuance provides Health Care REIT with significant financial flexibility and enhances its ability to pursue growth opportunities in a dynamic healthcare market. Investors should note the fixed interest rate of 4.70% and the seven-year maturity of these notes, which offer a predictable cost of debt. The filing also details the formal agreements and legal opinions associated with this transaction, underscoring the company's transparent financial practices.

Key Highlights

  • 1Health Care REIT, Inc. raised $450 million through the issuance of 4.70% senior notes due 2017.
  • 2The notes were issued under a firm commitment underwriting agreement with UBS Securities LLC, J.P. Morgan Securities LLC, and Barclays Capital Inc.
  • 3The offering was made pursuant to an existing automatic shelf registration statement on Form S-3.
  • 4The senior notes bear a fixed interest rate of 4.70% per annum, payable semi-annually.
  • 5The maturity date for the notes is September 15, 2017.
  • 6The company entered into an Indenture and a Supplemental Indenture No. 3 governing the terms of the notes.
  • 7The filing includes various exhibits such as the Underwriting Agreement, Indentures, and legal opinions from counsel.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the material event of Health Care REIT, Inc. successfully selling $450 million in aggregate principal amount of 4.70% senior notes due 2017. This disclosure informs investors about a significant capital-raising activity undertaken by the company.

The senior notes issued by Health Care REIT, Inc. have a fixed interest rate of 4.70% per year, payable semi-annually. The notes mature on September 15, 2017.

While this specific 8-K filing does not detail the exact use of proceeds, typically, companies issue debt to fund general corporate purposes, which can include acquisitions, development projects, capital expenditures, or refinancing existing debt. Investors would look to other company communications or future filings for specific allocation details.

The underwriters for this debt offering included UBS Securities LLC, J.P. Morgan Securities LLC, and Barclays Capital Inc., acting as Representatives of the Several Underwriters.