Wipada Wipawin
- Healthcare REIT Welltower (NYSE:WELL) priced and upsized its $750M debt offering announced on July 8 to a $900M private placement of 3.125% exchangeable senior notes offering.
- The offering, launched by the operating company Welltower OP, was made to institutional buyers.
- The initial purchasers were granted an option to purchase up to an additional $135M aggregate principal amount of notes.
- The offering is expected to close on July 11.
- The senior unsecured obligations will accrue interest payable semi-annually in arrears on January 15 and July 15 of each year, beginning January 15, 2025.
- The notes will mature on July 15, 2029.
- Net proceeds are expected to come at ~$882.3M.
- The net proceeds are anticipated to be used for general corporate purposes, and may also be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations.
- Source: Press Release