Summary
Health Care REIT, Inc. (now Welltower Inc.) filed an 8-K on October 4, 2013, to report on a significant debt offering. The company entered into an Underwriting Agreement on October 2, 2013, for the issuance of $400 million in aggregate principal amount of 4.500% senior notes due in 2024. This offering, which was expected to close on October 7, 2013, provides the company with substantial capital. Investors in these notes are lending to Health Care REIT, Inc. with a fixed coupon rate of 4.500% over a period of approximately 11 years. The filing also includes customary exhibits such as the Underwriting Agreement and legal opinions, which are standard for such debt issuances.
Key Highlights
- 1Health Care REIT, Inc. (WELL) issued $400 million in aggregate principal amount of senior notes.
- 2The notes carry a fixed interest rate of 4.500%.
- 3The maturity date for these senior notes is 2024, indicating an approximately 11-year term.
- 4The Underwriting Agreement was dated October 2, 2013.
- 5The offering was expected to close on October 7, 2013.
- 6This 8-K filing is related to a previously effective Registration Statement on Form S-3.
Frequently Asked Questions
This 8-K filing serves to report a material event, specifically the company's entry into an Underwriting Agreement for a significant debt offering. It informs investors about the terms and execution of this financing.
The senior notes have an aggregate principal amount of $400,000,000, bear a fixed interest rate of 4.500% per annum, and mature in 2024.
The underwriters, acting as representatives of the several underwriters, are Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, and UBS Securities LLC.
The offering was expected to close on October 7, 2013.