Ventas Inc. priced an offering of $650 million of 3.000% senior notes due 2030.
The public offering by the healthcare real estate investment trust's Ventas Realty LP unit priced at 99.506% of the notes' principal amount and is set to close Aug. 21.
Ventas aims to use the net proceeds, along with cash on hand and/or borrowings under its unsecured revolving credit facility, to fund Ventas Realty's cash tender offer for its 4.25% senior notes due 2022 and for other general corporate purposes.
J.P. Morgan Securities LLC, Credit Agricole Securities (USA) Inc., MUFG Securities Americas Inc. and Wells Fargo Securities LLC were the joint book-running managers for the offering.
