Summary
Welltower Inc. (WELL) announced the establishment of a new unsecured commercial paper note program on January 30, 2019, with an aggregate face amount of up to $1.0 billion. This program allows the company to issue short-term notes with maturities not exceeding 397 days for general corporate purposes. The commercial paper will be unsecured and rank equally with other senior unsecured indebtedness. This initiative provides Welltower with enhanced financial flexibility and access to short-term capital. The ability to raise funds through this program can support ongoing operations, strategic investments, or bridge financing needs. Investors should note that the notes are not registered under the Securities Act and are offered under exemptions, a standard practice for commercial paper issuance.
Key Highlights
- 1Establishment of a $1.0 billion unsecured commercial paper note program.
- 2Maturities of commercial paper notes can extend up to 397 days.
- 3Proceeds are designated for general corporate purposes.
- 4Notes will rank pari passu with other unsecured senior indebtedness.
- 5This program enhances the company's short-term funding capabilities.
- 6Commercial paper notes are not registered under the Securities Act.