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Ventas releases results of repurchase offer for 4.750% notes due 2021

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Ventas releases results of repurchase offer for 4.750% notes due 2021

Ventas Inc. released the results of an offer by its Ventas Realty LP and Ventas Capital Corp. units to repurchase for cash any and all of their outstanding 4.750% senior notes due 2021.

The offer expired at 5 p.m. ET on Aug. 10. As of the expiration time, a total of about $549.4 million of the notes, or 78.5% of the aggregate principal amount of the notes outstanding, had been validly tendered and not withdrawn.

The healthcare real estate investment trust's units will pay $1,045.57 for each $1,000 principal amount of the notes, in addition to applicable interest, and will fund the payment for tendered and accepted notes with the net proceeds from Ventas Realty's $750.0 million offering of 4.400% senior notes due 2029, together with cash on hand and/or borrowings under the company's unsecured revolving credit facility.

Wells Fargo Securities LLC and Morgan Stanley & Co. LLC were the dealer managers for the offer, while D.F. King & Co. Inc. was the information and tender agent.