Summary
Health Care REIT, Inc. (now Welltower Inc.) announced the execution of an Underwriting Agreement on November 8, 2013, for a significant debt offering. The company plans to issue £550,000,000 in aggregate principal amount of 4.800% senior notes due 2028. This offering, which is expected to close on November 20, 2013, is being conducted under a previously effective Form S-3 registration statement. The agreement was entered into with a syndicate of underwriters led by Deutsche Bank AG, London Branch, Barclays Bank PLC, and others. This debt issuance is a key financial event for Health Care REIT, Inc., indicating a strategic move to raise capital. Investors should note the substantial principal amount and the fixed coupon rate, which will impact the company's future interest expenses and leverage. The timing of the offering, close to year-end, suggests proactive treasury management. The company is also providing legal and tax opinions from Shumaker, Loop & Kendrick, LLP and Arnold & Porter LLP as exhibits to this filing, supporting the legitimacy and structure of the note offering.
Key Highlights
- 1Health Care REIT, Inc. entered into an Underwriting Agreement on November 8, 2013.
- 2The company is offering £550,000,000 in aggregate principal amount of senior notes.
- 3The senior notes will carry a fixed interest rate of 4.800% per annum.
- 4The maturity date for these senior notes is 2028.
- 5The offering is expected to close on November 20, 2013, subject to customary conditions.
- 6The offering is made under a previously effective Form S-3 registration statement (File No. 333-181185).
- 7Key underwriters include Deutsche Bank AG, London Branch, Barclays Bank PLC, and others.