Welltower launched an offering of $750 million in exchangeable senior notes due in 2028 in a private placement. Welltower also intends to grant the initial purchasers an option to purchase up to an additional $112.5 million of notes.
Welltower intends to use the net proceeds for general corporate purposes, which may include the repayment or redemption of debt (which may include the 4.5% Notes due January 15, 2024 and the 3.625% Notes due March 15, 2024) and investment in health care, wellness and seniors housing properties. Net proceeds may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States. Read more.
